Our Kingston Vale conveyancer has uncovered a difference when comparing the surveyor’s assumptions in the valuation report and what is in the legal papers for the property. My lawyer informs me that he must check that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s course or action appropriate?
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.
We note that you have a search directory listing firms on the Principality conveyancing panel. Do firms pay you a commission if I appoint them for our conveyancing in Kingston Vale?
We are a listing service only for law firms wishing to communicate if they are on the Principality conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Kingston Vale.
What will a local search inform me concerning the property we're purchasing in Kingston Vale?
Kingston Vale conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search company such as PSG The local search plays a central part in many a Kingston Vale conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your property. The search will reveal data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
How does conveyancing in Kingston Vale differ for newly converted properties?
Most buyers of new build premises in Kingston Vale contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is finished. This is because developers in Kingston Vale tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Kingston Vale or who has acted in the same development.
I was recommended by numerous property agents in Kingston Vale to select a property lawyer using your seach tool. Is there a financial advantage for Estate Agents to market your services over a competitor’s?
We refuse to offer any referral fee for pointing buyers and sellers in our direction. We found it would be just too difficult to pay a commission because a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.