The Colwyn Bay conveyancing firm handling our Colwyn Bay 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 informs me that he needs to check that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s course or action correct?
Your conveyancer must comply with the UK Finance Lenders’ Handbook requirements 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 both parties.
I am selling my home in Colwyn Bay. Does the solicitor have to be on the Kent Reliance conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Kent Reliance 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 specifications fairly frequently in recent years.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Colwyn Bay?
Two types of professional can perform conveyancing in Colwyn Bay namely CLC regulated conveyancers or solicitors. Both professionals administer the legal services that you need to complete the disposal or purchase of property. They are both required to perform Colwyn Bay conveyancing on similar standards and guidelines so you can be safe in the knowledge that your conveyancing will be properly conducted and that all necessary procedures should be appropriately taken.
We have a mortgage agreed in principle with Kent Reliance. Colwyn Bay conveyancing lawyers are chosen. What is the average time that one could expect to receive a mortgage offer from Kent Reliance?
There is no definitive answer here. Have Kent Reliance completed the survey? Have you advised Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Colwyn Bay building society branch on a couple of occasions and was told it wasn't a problem and they will lend. My Colwyn Bay conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend based on their specific requirements. Who do I believe?
The conveyancer must follow the Council of Mortgage Lenders’ Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I decided to have a survey done on a property in Colwyn Bay ahead of appointing lawyers. I have been informed that there is a flying freehold element to the property. The surveyor has said that some lenders may not grant a loan on such a premises.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Colwyn Bay. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Colwyn Bay to see if the conveyancing will be more expensive.
I need to retain a conveyancing solicitor for sale conveyancing in Colwyn Bay. I happened to land on a site which appears to be the perfect answer If it is possible to get all formalities completed via phone that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?