The Littleover conveyancing firm handling our Littleover conveyancing has identified an inconsistency when comparing the surveyor’s assumptions in the valuation survey and what is revealed within the title deeds. My solicitor informs me that he must ensure that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s stance correct?
Your lawyer 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.
I have a decision in principle. The lender mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would much rather instruct a Littleover based conveyancing firm?
Do check but the chances are that appoint one of their panel solicitors where you take up the "fee-free" offer. Contact the lender to ask if they allow a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Littleover.
A relative informed me that in buying a property in Littleover there could be various restrictions preventing external alterations to a property. Is this right?
We are aware of a number of properties in Littleover which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Littleover should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We expect to receive a DIP from Nationwide this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nationwide recommend any Littleover solicitors on the Nationwide conveyancing panel, or is it better to go independently?
You will need to appoint Littleover solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.
I am selling my house. I had a double glazing fitted in August 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, RBS are being pedantic. The Littleover solicitor who is on the RBS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but RBS are requiring a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I'm purchasing a new build house in Littleover with a loan from Yorkshire Building Society. The sellers would not budge the price so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not inform my solicitor about the deal as it could put at risk my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Due to the guidance of my in-laws I had a survey completed on a property in Littleover prior to appointing solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies tend refuse to give a mortgage on a flying freehold premises.
It varies from the lender to lender. Santander has different requirements from Nationwide. If you contact us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Littleover. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Littleover to see if the conveyancing will be more expensive.