Our Eaglescliffe lawyer has discovered an inconsistency between the information in the home valuation report and what is in the legal papers for the property. My solicitor informs me that he is obliged to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action legitimate?
Your solicitor must comply with the UK Finance Lenders’ Handbook specifications 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.
What does my ID and proof of funds have anything to do with my conveyancing in Eaglescliffe? Why is this being asked of me?
Eaglescliffe conveyancing solicitors and indeed property lawyers accross the UK have a duty under Anti-terror and anti-money-laundering rules to check the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and proof of address (typically a Bank Statement less than 3 months old).
Proof of the origin of monies is also required in accordance with the money laundering laws as solicitors are required to check that the monies you are utilising to acquire a property (whether it be the deposit for exchange or the total purchase price where you are a cash purchaser) has originated from a reputable source (such as an inheritance) rather than the product of criminal activity.
We previously chose conveyancers with offices in Eaglescliffe on the HSBC solicitor approved list. They have just invoiced me a further fee for dealing with the HSBC mortgage. Is this an additional conveyancing fee specified by HSBC?
Provided it is contained in their Terms of Engagement or estimate then yes your lawyer is entitled to levy a fee for this. This fee is not dictated by HSBC but by your Eaglescliffe lawyer. Some firms on the HSBC panel will levy ’dealing with mortgage’ fee and others do not.
We have agreed to purchase a house in Eaglescliffe. One unusual aspect is that the roof has a solar panel. UBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is UBS your lawyer must check the formal instructions contained in Part 2 of UK Finance Lenders’ Handbook for UBS. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and conveyancers are required to report to UBS where a lease does not comply with these conditions. The conditions relate to the installation of panels on properties in England and Wales and is not limited to Eaglescliffe.
After what feels like an age I have had an offer on an apartment in Eaglescliffe agreed to, but there is a chain. The sellers have offered on a flat, however it’s not been accepted yet, and are looking at other properties in the pipeline. I have selected a local conveyancing solicitor in Eaglescliffe. What should be my next step? When should I get the mortgage application with Nottingham started?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then survey, Eaglescliffe conveyancing search charges, etc). First, you should ensure that your conveyancer is on the Nottingham conveyancing panel. As to the subsequent stages this very much depends on the uniqueness of your transaction, motivation for the property and on the state of the market. During a buoyant market some home buyers will apply for the mortgage with Nottingham and pay for the valuation and only if it comes back ok would they pay their lawyer to proceed with the conveyancing in Eaglescliffe.
Should our lawyer be asking questions regarding flooding during the conveyancing in Eaglescliffe.
The risk of flooding is if increasing concern for lawyers dealing with homes in Eaglescliffe. There are those who buy a house in Eaglescliffe, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, but there are a number of searches that may be initiated by the purchaser or by their solicitors which will figure out the risks in Eaglescliffe. The standard information supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the seller to find out whether the premises has suffered from flooding. If flooding has previously occurred which is not notified by the seller, then a buyer may bring a legal claim for losses resulting from an misleading reply. A purchaser’s solicitors may also carry out an enviro search. This will reveal whether there is any known flood risk. If so, additional inquiries should be carried out.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Eaglescliffe is the location of the property. Is there any guidance you can give?
Flying freeholds in Eaglescliffe are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Eaglescliffe you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Eaglescliffe 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 premises.