The Ripley conveyancing firm handling our Ripley conveyancing has identified a discrepancy between the assumptions in the valuation report and what is revealed within the title deeds. My lawyer says that he is duty bound to ensure that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s approach correct?
Your property lawyer 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 you.
The Ripley conveyancing solicitors that just started acting on my house acquisition in Ripley have without warning closed. I only went with them because I had to have a lawyer on the Nottingham conveyancing panel and my family Ripley lawyer was not. I gave my credit card details for them to take £195 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Nottingham conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
Have just purchased a repossessed house at auction in Ripley. Conveyancing is needed. What is next?
Having legally bound yourself to purchase you now have to hire the services of a conveyancing practitioner soon as you are facing a fast approaching a drop dead date to complete the property. An auction property will have a corresponding auction set of papers. This should include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the conveyancing papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to a leasehold property. You should pass this on to your appointed conveyancing solicitor ASAP. You also need to ensure that you have funds in order to complete on the date specified in the contract.
My father advised me that in purchasing a property in Ripley there could be a number of restrictions prohibiting external changes to the property. Is this right?
There are anumerous of properties in Ripley which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Ripley should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My offer on a house in Ripley has been agreed to, the vendors do nevertheless have an associated purchase. The sellers have offered on somewhere, however it’s not yet agreed to, and are looking at other apartments booked. I have selected a high street conveyancing solicitor in Ripley. What should be my next step? At what stage do I apply for the mortgage with TSB?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of one thousand pounds, then valuation, Ripley conveyancing search fees, etc). The first thing to do is check that your lawyer is on the TSB conveyancing panel. As to the subsequent phase this very much dictated by the circumstances of your case, attraction to this property and on the state of the market. During a buoyant market some home buyers would apply for the mortgage with TSB and arrange for the valuation and only if it was satisfactory would they pay their conveyancing practitioner to press on with searches.
I have justbecome aware that Arc property Solicitors have been shut down. They carried out my conveyancing in Ripley for a purchase of a leasehold flat 10 months ago. How can I be sure that my home is in my name in the name of the former proprietor?
The easiest method to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Ripley conveyancing specialists.
Due to the input of my in-laws I had a survey completed on a property in Ripley prior to instructing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some lenders tend not issue a mortgage on this type of house.
It varies from the lender to lender. Santander has different instructions from Halifax. Should you wish to call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ripley. Conveyancing may be slightly more expensive based on your lender's requirements.