My Hotwells solicitor has uncovered an inconsistency when comparing the information in the valuation report and what is revealed within the legal papers for the property. My solicitor has advised that he needs to check that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s course or action appropriate?
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 you.
We note that you have a post code search directory listing firms on the Aldermore conveyancing panel. Do companies pay you a referral fee if I retain them for our conveyancing in Hotwells?
We are a listing service only for law firms wishing to communicate if they are on the Aldermore conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Hotwells.
It has been three months since my purchase conveyancing in Hotwells took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm converting the mortgage on my primary home to a buy to let mortgage with Bank of Scotland and intend to use the remaining equity towards a second house. The area we are looking at is Hotwells. Will your lawyers be able to act for both sets of lenders and tie in the transactions?
Do use our comparison tool on this page to be sure that the conveyancers are approved by both mortgage companies. Assuming that they are your solicitor should be able to simultaneously deal with the two transactions but you should have a chat with you solicitor and specify your desired outcome and needs.
I need to instruct a conveyancing solicitor for my conveyancing in Hotwells. I've land on a site which appears to be the perfect offering If there is a chance to get all this stuff completed via phone that would be ideal. Should I be wary? What are the potential pitfalls?
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?