Our Rednal lawyer has discovered an inconsistency when comparing the surveyor’s assumptions in the home valuation survey and what is in the legal papers for the property. My lawyer informs me that he is duty bound to check that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s stance correct?
Your conveyancer 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.
I have today made my last payment due on my mortgage with Clydesdale. I assume I don't need a Rednal lawyer on the Clydesdale panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Clydesdale mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Clydesdale mortgage from the register. Clydesdale, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
Intending to buy a house in Rednal. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Clydesdale conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Rednal lawyer is on the Clydesdale conveyancing panel.
I have finally had an offer on a maisonette in Rednal agreed to, but there is a chain. The owners have offered on somewhere, however it’s not been accepted yet, and have viewings of other apartments booked. I have instructed a local conveyancing solicitor in Rednal. What should be my next step? At what point should I apply for the mortgage with Virgin Money?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur costs too early (mortgage application is in the region of £1k, then survey, Rednal conveyancing search fees, etc). The first course of action is to ensure that your conveyancing practitioner is on the Virgin Money conveyancing panel. Concerning the subsequent stages this very much dictated by the circumstances of your transaction, desire for the property and on the state of the market. In a rising market the majority of purchasers will apply for the mortgage with Virgin Money and arrange for the valuation and only if it comes back ok would they request their conveyancing practitioner to proceed with the conveyancing in Rednal.
How does conveyancing in Rednal differ for newly converted properties?
Most buyers of new build or newly converted property in Rednal contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Rednal tend to buy 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 conveyancing solicitors 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 accustomed to new build conveyancing in Rednal or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one near me in Rednal I like with amenity areas and station nearby, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Rednal in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan the shortness of the lease will likely be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
Are there any apps to help locate a Rednal law firm on the Britannia conveyancing panel? I have a car and am happy to travel upto 25kilometers to meet the solicitor.
Feel free to make use of the facility on this website. Please pick a mortgage company and your location and you will see a number of Rednal conveyancing lawyers based on proximity. We have listed some Rednal conveyancing firms towards the end of this page and you can ring them to check whether they are on the Britannia approved list