The Denbighshire conveyancing firm handling our Denbighshire conveyancing has spotted a difference between the assumptions in the home valuation report and what is revealed within the title deeds. My solicitor informs me that he needs to check that the lender is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action legitimate?
Your property lawyer 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 both parties.
I am in the process of mortgaging my apartment in Denbighshire, does my lawyer have to be on the Principality Conveyancing panel?
There is nothing to stop you using your solicitor, but Principality will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
When it comes to mortgage companies such as Nationwide, do Denbighshire lawyers face an annual charge to be on the conveyancing panel?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Can I be sure that the Denbighshire conveyancing solicitor on the Nationwide panel is any good?
When it comes to conveyancing in Denbighshire getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor conducting your conveyancing.
I have instructed a Denbighshire conveyancer having made sure that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Denbighshire postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Denbighshire.
I'm buying a new build house in Denbighshire with a loan from Godiva Mortgages Ltd. The sellers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not to tell my conveyancer about this side-deal as it may impact my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Denbighshire is where the house is located. Is there any guidance you can give?
Flying freeholds in Denbighshire are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Denbighshire you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Denbighshire may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.