My Cottingham lawyer has spotted a discrepancy between the information in the valuation report and what is revealed within the conveyancing documents. My solicitor informs me that he must check that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s approach appropriate?
Your conveyancing practitioner 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 close to exchanging contracts on the sale of our property in Cottingham and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A local conveyancer would know this is not the case. For the life of me I don't know why the purchasers instructed an online conveyancing firm as opposed to a conveyancing solicitor in Cottingham. Having lived in Cottingham for 5 years we know of no issue. Do we get in touch with our local Authority to get clarification that there is no issue.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
The deeds to our property can not be found. The conveyancers who did the conveyancing in Cottingham 10 years ago no longer exist. What do I do?
As long as you have a registered title the information relating to your ownership will be evidenced by HMLR with a Title Number. It is easy to execute a search at the Land Registry, find your property and order up to date copies of the property title for less than a fiver. If the title is Leasehold then the Land Registry will also normally retain a certified copy of the Registered Lease and again, a copy can be ordered for £20 inclusive of VAT.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Cottingham is where the house is located. Is there any guidance you can impart?
Flying freeholds in Cottingham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cottingham 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 Cottingham 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 downsizing from my house. My previous lawyers have shut. It would be helpful to have a recommendation of a conveyancing firm. Im based in Cottingham if that affects matters.
Please use our search tool to help you choose a solicitor for your conveyancing in Cottingham. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
Our conveyancer in Cottingham has identified a defect with the lease for the flat we are buying in Cottingham. The other side have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that as he is on the lender conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or the mortgage company?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Cottingham conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the bank are the client. The appropriate lender requirements must be adhered to by the bank conveyancing panel who has to balance acting for you and the lender