Our Pitsea solicitor has discovered an inconsistency when comparing the surveyor’s assumptions in the home valuation survey and what is in the title deeds. My lawyer informs me that he needs to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my lawyer’s stance appropriate?
Your conveyancer 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.
My Solicitor in Pitsea is not listed on the Coventry Building Society Approved Panel. Can I still retain my family solicitor even though they are excluded from the Coventry Building Society panel?
The limited options open to you here include:
- Complete the purchase with your existing Pitsea lawyers but Coventry Building Society will need to retain a lawyer on their list of acceptable firms. This will inevitably rack up the total legal charges as well as result in delays.
- Choose an alternative practitioner to to deal with the purchase, obviously checking they are on the Coventry Building Society panel
I am purchasing a new build house in Pitsea benefiting from help to buy. The sellers refused to reduce the price so I negotiated 6k of additionals instead. The sale representative suggested that I not inform my conveyancer about the deal as it would affect my loan with the lender. 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 Pitsea before instructing solicitors. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some lenders may refuse to grant a loan on such a house.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Pitsea. Conveyancing will be smoother if you use a solicitor in Pitsea especially if they regularly deal with such properties in Pitsea.
I need to retain a conveyancing solicitor for remortgage conveyancing in Pitsea. I've discover a web site which looks to be the ideal offering If there is a chance to get all this stuff done via email that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?