The Swavesey conveyancing firm handling our Swavesey conveyancing has discovered a discrepancy between the assumptions in the valuation report and what is in the legal papers for the property. My lawyer says that he needs to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action correct?
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.
Why do I have to pay up front for conveyancing in Swavesey?
Where you are retaining lawyers for conveyancing in Swavesey your lawyer will request that you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is payable against the total price then this should be required immediately before exchange of contracts. The final balance that is needed should be sent to your lawyer shortly before completion.
About to place an offer on a leasehold property in Swavesey. The selling agents assure me that it is usual for flats in Swavesey to have less than 75 years unexpired on the lease. I am obtaining a loan with Tesco Bank. Is this going to be acceptable if the lease has 72 years unexpired.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 5/9/2021 the requirements read as follows :
We had selected conveyancers located in Swavesey on the Clydesdale solicitor approved list. They have just invoiced me a separate fee for handling the Clydesdale mortgage. Is this an additional conveyancing fee set by Clydesdale?
Provided it is contained in their Terms of Engagement or estimate then yes your solicitor can levy a fee for this. The charge is not set by Clydesdale but by your Swavesey solicitor. Numerous firms on the Clydesdale panel will quote ’dealing with mortgage’ fee and others do not.
My fiancee and I are at the point of viewing apartments in Swavesey and I am now considering a potential offer. Is it sensible to have a solicitor on ‘stand by’? I am planning to take a mortgage with Nottingham.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. As you are obtaining a mortgage with Nottingham, make sure you remember to check that your lawyer is on the Nottingham conveyancing panel.
I recently had an offer accepted on an apartment in Swavesey. My financial adviser recommended their conveyancers. I paid an advanced payment of £150. A few days later, the property lawyer contacted me sheepishly admitting that they were not on the Yorkshire BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Yorkshire BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Myself and my partner have recently had an offer accepted on a house and had an appointment on Friday with the Post Office for the mortgage. They warned me that when it comes to appointing a solicitor that if they are not on their approved panel of conveyancers then we will have to pay out an extra fee of £250+. This is is due to the fact that they will then have to appoint a property lawyer to act on their behalf as well as the one we choose to act for ourselves and we are liable for their invoice. I have asked the Post Office to send me with a list so I can request estimates only from their approved conveyancers but was told that I need to check with each individual conveyancer to see if they are on the panel. Is there a simple way of finding out who is on a lender panel?
You should ask the Post Office what their panel criteria is for a conveyancer.Thereafter ask the property lawyer of your choice whether they fit that criteria and have they acted on mortgages for the Post Office before. If the answer to those is yes, then just double check with the Post Office. Alternatively please use our search tool and we may be able to identify a property lawyer in Swavesey on the panel for the Post Office.