Our Cramlington lawyer has spotted an inconsistency between the assumptions in the home valuation report and what is revealed within the title deeds. My lawyer says that he is obliged to check that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s stance right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions 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.
Are the Cramlington conveyancing solicitors identified as being on the Barclays conveyancing panel, together with their details provided by Barclays?
Cramlington conveyancing firms themselves provide us confirmation that they are on the Barclays conveyancing panel as opposed to being supplied with a list from Barclays directly.
I am helping my niece sell her flat in Cramlington. Does the solicitor arrange an energy assessment or it is for the owner to see to?
After the abolition of HIPs, energy performance certificates was kept a compulsory part of selling a house. An energy assessment needs to be to hand prior to the property being put on the market. This is not a task that conveyancers ordinarily organise. Where you are using a Cramlington conveyancing solicitor they might be willing to arrange EPC’s due to their contacts with long established local energy assessors
Can you help - my lawyer advises that restrictive coveneant insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Cramlington?
The appropriate level of restrictive coveneant indemnity insurance should be dictated by who your lender. It would differ for example between Accord Mortgages Ltd and The Mortgage Works. Conveyancing practitioners as opposed to borrowers take out such policies.
I recently had an offer accepted on a house in Cramlington. My mortgage broker suggested a property lawyer. I paid an on account payment of £175. A couple of days later, the property lawyer called me sheepishly admitting 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 am looking for a leasehold apartment up to £235,500 and found one near me in Cramlington I like with amenity areas and railway links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Cramlington for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
What does commercial conveyancing in Cramlington cover?
Cramlington conveyancing for business premises incorporates a broad range of services, supplied by qualified solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.