Our St Giles lawyer has discovered an inconsistency between the assumptions in the home valuation report and what is in the legal papers for the property. My solicitor says that he is obliged to check that the lender is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach appropriate?
Your solicitor 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 you.
Why is leasehold purchase conveyancing in St Giles costs more?
St Giles leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would much rather appoint a high street conveyancing solicitor in St Giles?
Do check but the chances are that give you one of their panel solicitors if you want the "fee-free" incentive. Speak to the bank and check if they make available a cash alternative. Some banks have previously offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near St Giles.
Does a directory service exist listing Co-operative panel solicitors in St Giles on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association sites. Very few mortgage companies make their panel listings available on the web. Where you are in need of a St Giles property lawyer on the Co-operative please use our facility.
Is it the case that all St Giles conveyancing solicitors on the Nottingham conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Nottingham approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Many mortgage companies do list licenced conveyancers on their panel in which case such firms would be overseen by the Council of Licensed Conveyancers.
At last I have had an offer on a flat in St Giles accepted, but there is a chain. The sellers have placed an offer on a property, however it’s not been accepted yet, and are looking at other apartments booked. I have chosen a high street conveyancing solicitor in St Giles. What should be my next step? When should I get the mortgage application with Kent Reliance started?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then valuation, St Giles conveyancing search charges, etc). First, you must ensure that your lawyer is on the Kent Reliance approved list. Regarding the subsequent phase this very much dictated by the uniqueness of your case, desire for the property and on the state of the market. In a rising market the majority of purchasers would apply for a home loan with Kent Reliance and arrange for the valuation and only if it was satisfactory would they ask their solicitor to move forward with searches.
What does commercial conveyancing in St Giles cover?
St Giles conveyancing for business premises incorporates a broad range of guidance, offered by qualified solicitors, relating to business property. By way of example, this type 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 mortgages and the termination of leases.