The Selly Oak conveyancing firm handling our Selly Oak conveyancing has identified a difference between the information in the home valuation survey and what is revealed within the conveyancing documents. My lawyer has advised 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 stance right?
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.
I have a mortgage with Clydesdale for my property in Selly Oak. Conveyancing was finalised some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Clydesdale?
You must advise Clydesdale prior to letting out your property as this is likely to be a breach of Clydesdale’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. You need not do this via a Clydesdale conveyancing panel firm.
Barclays have agreed my mortgage in principle, my bid on a flat in Selly Oak has been accepted, what are the next steps?
Your property agent will need to know who your solicitors are (ensure that the conveyancers are on the lender’s approved list). Telephone Barclays or the broker and complete any relevant paperwork. Barclays will sellect a valuer who will get in contact with the selling agent or seller to arrange an appointment. Once conducted (assuming no problems) it takes on average ten days to get a mortgage offer. Barclays will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Selly Oak.
At last I have had an offer on a flat in Selly Oak agreed to, but there is a chain. The owners have put an offer on a flat, however it’s not yet tied up, and have viewings of other properties in the pipeline. I have chosen a nearby conveyancing solicitor in Selly Oak. What do I do now? At what stage should I apply for the mortgage with Santander?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then survey, Selly Oak conveyancing search charges, etc). First, you must check that your lawyer is on the Santander approved list. Concerning the subsequent stages this very much depends on the circumstances of your transaction, desire for this property and on the state of the market. In a rising market many purchasers will apply for a home loan with Santander and arrange for the valuation and only if it comes back ok would they ask their conveyancer to proceed with searches.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Selly Oak. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Selly Oak
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
We are 3 weeks into a residential purchase having been referred to conveyancers by the local agent to perform conveyancing in Selly Oak. I am am extremely dissatisfied with the level of service. Can you you assist me in finding new lawyers?
A conveyancer would need to be very poor in order to consider changing them. Has the mortgage been sent? If so you will need to inform them of the replacement lawyer and have the mortgage documents are re-sent. Your new conveyancer needs to be on the banks approved list to avoid supplemental fees and delays. So that should be your first question of the new conveyancers. The search tool will help you find a lender approved conveyancer for your home move in Selly Oak
How much experience do your Selly Oak conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Selly Oak conveyancing lawyers help thousands of people move home every year and assisted plenty of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Selly Oak conveyancers have worked on recent similar cases.