My North Baddesley conveyancer has discovered a discrepancy when comparing the information in the home valuation report and what is in the legal papers for the property. My lawyer informs me that he is obliged to check that the lender is happy with this discrepancy and is still content to lend. Is my lawyer’s approach right?
Your conveyancer 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.
Do I need to pop into the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in North Baddesley so that I can pop in to their offices if required.
Most conveyancing panel lawyers for banks undertake their work via Royal Mail, internet or over the phone. This enables them to conduct the legal work for your home move regardless of where you live in the country. Nevertheless you should check if you have the option of visiting the offices of your conveyancing lawyer if you prefer.
How does conveyancing in North Baddesley differ for newly converted properties?
Most buyers of new build residence in North Baddesley come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is built. This is because builders in North Baddesley tend to acquire the site, 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 property lawyers 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 used to new build conveyancing in North Baddesley or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. North Baddesley is the location of the property. Can you shed any light on this issue?
Flying freeholds in North Baddesley are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside North Baddesley you must be sure that your lawyer goes 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 North Baddesley may determine 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.
My father-in-law has recommend that I instruct his lawyers for conveyancing in North Baddesley. Do I take his guidance?
Much as we are happy to recommend a North Baddesley conveyancing lawyer the best way to find a conveyancing solicitor is to get feedback from friends or family who have previously instructed the solicitor that you are considering.