The Cookley conveyancing firm handling our Cookley conveyancing has spotted an inconsistency between the surveyor’s assumptions in the valuation survey and what is in the legal papers for the property. My lawyer says that he needs to check that the bank is happy with this discrepancy and is still content to lend. Is my conveyancer’s approach right?
Your lawyer 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.
When it comes to mortgage companies such as TSB, do Cookley conveyancers face a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
We previously appointed conveyancers based in Cookley on the Skipton solicitor approved list. They have just invoiced me a separate amount for dealing with the Skipton mortgage. Is this an additional conveyancing fee specified by Skipton?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your conveyancing practitioner can levy a fee for this. The charge is not set by Skipton but by your Cookley conveyancing practitioner. Numerous firms on the Skipton panel will charge ’dealing with mortgage’ fee but plenty of firms incorporate it on their overall fee.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Cookley building society branch on various occasions and was told it does not affect the mortgage offer and they will lend. My Cookley conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the lawyer is on the bank approved list, she or he must adhere to the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
My colleague suggested that where I am purchasing in Cookley I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Cookley conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Cookley around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Cookley Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Cookley Education with plans and statistics, Local Amenities and other useful data concerning Cookley.
I am buying a new build apartment in Cookley. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Cookley
Please supply a car parking plan. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I'm refinancing my primary property to a BTL mortgage with Barclays Direct and I will use the ballance of the raised equity towards another house. The neighborhood we are talking about is Cookley. Will your conveyancers be able to act for the two mortgage companies and tie in the transactions?
Make use of our search tool on this site to check that the conveyancers are on the appropriate lender panels. Having checked that they are your lawyer should be able to tie up the two transactions but you should have a chat with you solicitor and communicate your desired outcome and needs.