The Ottery St Mary conveyancing firm handling our Ottery St Mary conveyancing has discovered an inconsistency between the assumptions in the valuation report and what is revealed within the legal papers for the property. My solicitor has advised that he is duty bound to check that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s course or action correct?
Your lawyer must comply with the UK Finance Lenders’ Handbook requirements 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.
Can you point me to a directory of RBS panel solicitors in Ottery St Mary on the Council of Mortgage Lender’s Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings open the public over the internet. Where you are seeking to appoint a Ottery St Mary conveyancer on the RBS please use our facility.
Is it the case that all Ottery St Mary solicitor firms on the Aldermore conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Aldermore approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. The majority of banks do permit licenced conveyancers on their panel in which case such firms would be governed by the Council of Licensed Conveyancers.
I have decided to exercise my right to buy my property in Ottery St Mary off the council. I have a mortgage offer with Bank of Ireland. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
It has been five months following my purchase conveyancing in Ottery St Mary concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. 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 residence 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.
Due to the input of my in-laws I had a survey completed on a house in Ottery St Mary prior to retaining conveyancers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies may refuse to grant a mortgage on this type of property.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. If you e-mail us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Ottery St Mary. Conveyancing may be slightly more expensive based on your lender's requirements.
What does commercial conveyancing in Ottery St Mary cover?
Commercial conveyancing in Ottery St Mary incorporates a wide array of advice, supplied by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.