The Stockport conveyancing firm handling our Stockport conveyancing has discovered an inconsistency when comparing the assumptions in the home valuation survey and what is revealed within the title deeds. My solicitor says that he is duty bound to check that the lender is OK 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 both parties.
We see that you have a post code search directory listing solicitors on the Leeds Building Society conveyancing panel. Do companies pay you a referral fee if I instruct them for our own conveyancing in Stockport?
We are a listing service only for law firms wishing to communicate if they are on the Leeds Building Society conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Stockport.
Me and my partner are purchasing a apartment in Stockport. It might be a silly question but how we can trust a solicitor? On the day of competition we will need to send funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My husband and I have organised the release of further monies on our mortgage from Barclays as we intend to carry out alterations to our house in Stockport. Do we need to choose a nearby Stockport solicitor on the Barclays conveyancing panel to handle the paperwork?
Barclays do not ordinarily require a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays list.
I am currently in the process of buying my council flat in Stockport. I have a mortgage offer with HSBC. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
I'm purchasing my first flat in Stockport with a mortgage from The Mortgage Works. The developers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The property agent told me not reveal to my solicitor about this deal as it will affect my mortgage with The Mortgage Works. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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 input of my in-laws I had a survey completed on a house in Stockport ahead of instructing lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some banks will refuse to issue a loan on such a premises.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Stockport. Conveyancing may be slightly more expensive based on your lender's requirements.