Our Taverham conveyancer has discovered a difference when comparing the assumptions in the home valuation report and what is revealed within the title deeds. My lawyer has advised that he needs to ensure that the bank is happy with this discrepancy and is still content to lend. Is my conveyancer’s course or action right?
Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions 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.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the UBS Conveyancing panel ahead of completing my conveyancing in Taverham?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
What is your number one tip for choosing a conveyancing solicitor in Taverham
Do not opt for the lowest Taverham conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am currently in the process of buying my council flat in Taverham. I have a mortgage offer with Kent Reliance. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use 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 Kent Reliance, you will need to appoint a solicitor on the Kent Reliance conveyancing panel.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Taverham bank branch on various occasions and was informed it wasn't a problem and they would lend. My Taverham conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend in accordance with their published requirements. I simply don't know who is right.
The solicitor must follow the Council of Mortgage Lenders’ Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
How does conveyancing in Taverham differ for newly converted properties?
Most buyers of new build or newly converted property in Taverham come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is finished. This is because house builders in Taverham typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Taverham or who has acted in the same development.
Is it possible to swap firm as I have to select one who is on the Alliance & Leicester conveyancing list. I had appointed a family conveyancing solicitor in Taverham round the corner but she is not accepted by Alliance & Leicester
It would be our pleasure to assist you find a conveyancing solicitor in Taverham on the Alliance & Leicester panel. Please note that the law firms that we on the directory do not pay us commission if you instruct them and are under regulation of the Solicitors Regulation Authority who oversee all conveyancing solicitors in Taverham. In utilising search facility on this page, you can compare charges for conveyancing solicitors in Taverham and beyond.