Our Northamptonshire conveyancer has discovered a discrepancy when comparing the surveyor’s assumptions in the home valuation report and what is revealed within the legal papers for the property. My solicitor has advised that he is obliged to ensure that the bank is OK with this discrepancy and is content to go ahead. Is my conveyancer’s approach 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 you.
When does exchange of contracts occur in purchase conveyancing in Northamptonshire and am I required to be at the conveyancers office?
If you are round the corner to one of the conveyancing solicitors in Northamptonshire you are welcome to come in to sign the paperwork. That being said, the law practices we recommend supply a nationwide conveyancing service and give just as comprehensive and professional a job for you when dealing with you digitally. The signing of the purchase agreement is not when everything is set in stone. A signed contract is just a prerequisite for the solicitor to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Northamptonshire)to be in the office available at the end of the phone to exchange contracts.
I can not fathom if my lender requires a lease extension. I have telephoned my Northamptonshire bank branch on various occasions and was told it does not impact the mortgage offer and they would lend. My Northamptonshire conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
As long as the conveyancer is on the bank approved list, she or he must comply with the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am selling my flat. I had a double glazing fitted in May 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, TSB are being a right pain. The Northamptonshire solicitor who is on the TSB conveyancing panel is saying indemnity insurance will be fine but TSB are insisting on a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB 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.
Santander have agreed my mortgage in principle, my bid on a property in Northamptonshire has been accepted, what happens next?
The estate agent will want to be informed of your lawyer's details (ensure that the lawyers are on the bank’s panel). Contact Santander or the broker and complete any appropriate documentation. Santander will appoint a valuer who will get in touch with the selling agent or vendor to book a slot for the valuation to happen. Once carried out (assuming no problems) it takes on average a week for the mortgage offer to be issued. Santander will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Northamptonshire.
I am buying a property and the solicitor has raised the issue of Chancel Repair to which the house could be liable as it falls into the area of such a church. She has suggested insurance. Is this really warranted for conveyancing in Northamptonshire
Unless a previous purchase of the property completed post 12 October 2013 you could expect conveyancing practitioners carrying out conveyancing in Northamptonshire to continue to advocate a chancel search and or insurance against a claim.
Our lawyer in Northamptonshire has informed me that he requires identification documents saying that this forms part of his requirements as a solicitor on the mortgage company Solicitor panel. This is news to me - can I refuse?
Anti-terror and anti-money-laundering rules require Northamptonshire conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the mortgage company also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the mortgage company's UK Finance Lenders’ Handbook requirements