The Consett conveyancing firm handling our Consett conveyancing has discovered a discrepancy when comparing the assumptions in the valuation survey and what is in the title deeds. My lawyer has advised that he must check that the lender is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action correct?
Your conveyancer 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 are a couple who are purchasing a purpose built flat in Consett with a loan from Norwich and Peterborough Building Society.We use our Consett conveyancing lawyer but Norwich and Peterborough Building Society informed us he's not on their approved list of member firms. It seems we have no choice but to instruct a Norwich and Peterborough Building Society panel solicitor or retain our high street solicitor and fork out for a Norwich and Peterborough Building Society panel lawyer to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The loan offered to you contains various provisions, a common one being that lawyers will be on the Norwich and Peterborough Building Society approved list. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Norwich and Peterborough Building Society
We are buying a property and the lawyer has identified Chancel Repair for which the house may be obligated to contribute to as it falls into the area of such a church. She has recommended insurance. Is this really required for conveyancing in Consett
Unless a prior purchase of the house took place after 12 October 2013 you may expect lawyers handling conveyancing in Consett to remain recommending a chancel search and or chancel repair liability policy.
Are there restrictive covenants that are commonly identified as part of conveyancing in Consett?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Consett. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, no chain conveyancing. Consett is the location of the property. Is there any guidance you can impart?
Flying freeholds in Consett are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Consett 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 Consett 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 property.
I am using a search engine for the phrase on line conveyancing in Consett it reveals many property lawyersin the area. With so much choice what is the best way to find the suitable property lawyer for the sale of my house?
The preferential method of seeking a suitable conveyancer is through a personal recommendation, so enquire of friends and those you trust who have bought a property in Consett or a local estate agent or mortgage broker. Costs for conveyancing in Consett differ, so it's sensible to request at least three fee estimates from varying types of law firms. Make sure that you clarify that the costs are guaranteed not to to be inflated.