The Bow Street conveyancing firm handling our Bow Street conveyancing has uncovered a discrepancy between the information in the valuation report and what is revealed within the conveyancing documents. My lawyer says that he must ensure that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s course or action legitimate?
Your 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 you.
Me and my partner are purchasing a flat in Bow Street. It might be a silly question but how we can trust a solicitor? At some point we will need to put money into their account. What is the protection we have from them run away with our monies?
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.
Forgive me if this question is silly but I am unexperienced as FTB of a two bedroom flat in Bow Street. Do I receive the keys to the property on the completion date from my lawyer? If this is the case, I will instruct a local conveyancing solicitor in Bow Street?
On the day of completion you do not need to attend the conveyancers office in Bow Street. Conveyancing lawyers for you will arrange to send the purchase money to the vendor’s solicitors, and once they have received this, you will be called to collect the keys from the Estate Agents and move into your new home. Usually this occurs between 1 and 3pm.
Having digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Bow Street solicitor - who is on the RBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
RBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually RBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Bow Street postcode. As you are getting a mortgage with RBS, you could contact them to see if they have a list of approved surveyors in Bow Street.
Have completed on a a semi-detached house in Bow Street , how long will it take for the Land Registry to record the transfer to my name? My Bow Street conveyancing solicitor has been very slow, so I want to check that my ownership is recorded.
As far as conveyancing in Bow Street is concerned, registration is no quicker or slower than the rest of the country. Rather than based on location, timescales can vary depending on the party submitting the application, whether it is in order and if the Land registry must send notices to any other parties. Currently roughly three quarters of such applications are fully addressed in less than three weeks but occasionally there can be longer hold-ups. Registration is effected after the new owner is living at the premises therefore an expedited registration is not typically primary concern but if it is urgent that the the registration takes place urgently then you or your conveyancer could communicate with the Registry to express the reasoning for the application to be prioritised.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, chain free conveyancing. Bow Street is the location of the property. Can you offer any advice?
Flying freeholds in Bow Street are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bow Street you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bow Street may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am thinking of appointing a conveyancing practitioner in Bow Street for my house move. Can I review a solicitor's complaints history with the legal regulator?
One can search for presented Solicitor Regulator Association (SRA) decisions arising from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find information Pre 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA could monitor call for training requirements.
My partner and I have AIP from Bank of Ireland who indicated that they will loan up to £117k. At what point do we need to appoint a lawyer for conveyancing? Bow Street is where we plan to move to.
You can instruct a lawyer now so that the solicitor can open the file so they can do the ID checks etc. Once you wish them to start work you will be asked for a payment on account normally about £200. That should generally be once you have the mortgage offer and survey back, nevertheless if you want to expedite the process you can get going sooner even though you may be risking some money.