The Beddgelert conveyancing firm handling our Beddgelert conveyancing has discovered a difference when comparing the surveyor’s assumptions in the valuation report and what is in the legal papers for the property. My solicitor says that he is duty bound to ensure that the lender is happy with this discrepancy and is still content to lend. Is my conveyancer’s approach appropriate?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions 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 an AIP. The lender mentioned the loan came with free conveyancing. Does this mean I have to use their panel solicitor as I would prefer to use a Beddgelert based conveyancing firm?
Do check but the the likelihood is that allocate you one of their panel solicitors if you take up the "fee-free" incentive. Speak to the mortgage company and ask if they make available a monetary alternative. Some lenders have previously offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in Beddgelert.
I had a mortgage agreed in principle with UBS. Beddgelert conveyancing solicitors have been appointed. What is the average time that one could expect to receive a mortgage offer from UBS?
There is no definitive answer here. Have UBS done the valuation? Have you informed UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The formalities of my purchase has taken place for my property in Beddgelert. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
It is not clear whether my lender requires a lease extension. I have called my Beddgelert building society branch on numerous occasions and was told they are content with the situation and they will lend. My Beddgelert conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend based on their published requirements. I have no idea who is right.
Provided that the conveyancing practitioner is on the lender panel, they must comply with the CML Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I used Arc property Solicitors a few years past for my conveyancing in Beddgelert. Now, I need my files but the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Beddgelert of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been on the look out for a flat up to £195,000 and found one near me in Beddgelert I like with amenity areas and station nearby, the downside is that it only has 49 years on the lease. There is not much else in Beddgelert for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will likely be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I'm converting the mortgage on my current property to a buy to let mortgage with Alliance & Leicester and I will use the ballance of the raised equity towards further house. The neighborhood we are talking about is Beddgelert. Will your conveyancers be able to act for both sets of lenders and tie in the transactions?
Do use our comparison tool on this site to check that the conveyancers are approved by both banks. Assuming that they are your lawyer will be able to simultaneously deal with the two conveyancing matters but you should talk with you solicitor and specify your desired outcome and requirements.