The Barlborough conveyancing firm handling our Barlborough conveyancing has spotted a discrepancy when comparing the surveyor’s assumptions in the home valuation report and what is in the title deeds. My lawyer says that he is duty bound to ensure that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s approach correct?
Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
We are selling our flat in Barlborough. Will my property lawyer have to be on the Lloyds conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Lloyds conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
We are getting a further advance on our home loan from Principality as we wish to carry out renovations to our house in Barlborough. Are we obliged to select a nearby Barlborough solicitor on the Principality conveyancing panel to handle the legals?
Principality don't usually require a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality conveyancing panel.
Completion of my purchase has taken place for my property in Barlborough. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
After weeks of negotiation I have agreed a price on a house in Barlborough. My mortgage broker suggested a property lawyer. I paid an on account payment of £200. Not long after, the solicitor contacted me to say that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have been on the look out for a leasehold apartment up to £195,000 and found one close by in Barlborough I like with a park and station nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in Barlborough in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage that many years will likely be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
Our conveyancer in Barlborough has discovered a a problem with the lease for the apartment we are purchasing in Barlborough. The other side have put forward title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer says that as he is on the mortgage company conveyancing panel he must check that the lender is happy with this solution. Are we the client or is the bank?
Just because you have a mortgage offer from the lender does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Barlborough conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. These conveyancing instructions have to be complied with by the lender conveyancing panel who has to balance acting for you and the mortgage company