My Chessington lawyer has uncovered a discrepancy between the assumptions in the home valuation report and what is revealed within the legal papers for the property. My lawyer has advised that he is obliged to ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action right?
Your solicitor 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.
We note that you have a search directory listing solicitors on the Lloyds conveyancing panel. Do companies pay you a referral fee if I retain them for our conveyancing in Chessington?
We are a listing service only for law firms wishing to communicate if they are on the Lloyds conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Chessington.
I require fast conveyancing in Chessington as I am under pressure to sign on the dotted line inside one month. Thankfully I do not require a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
If.Given you are not obtaining a mortgage you are at free not to have searches carried out although no lawyer would advise that you don't. With lots of history conveyancing in Chessington the following are examples of what can appear and adversely impact the marketability of the property: Refused Planning Applications, Overdue Charges, Overdue Grants, Unadopted Roads,...
It has been three months following my purchase conveyancing in Chessington took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing my first flat in Chessington with a mortgage from Alliance & Leicester . The builders refused to reduce the price so I negotiated £7000 of extras instead. The sale representative advised me not to tell my solicitor about the side-deal as it would impact my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Chessington is where the house is located. Can you shed any light on this issue?
Flying freeholds in Chessington are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chessington you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chessington may ascertain 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.