The Cringleford conveyancing firm handling our Cringleford conveyancing has spotted a discrepancy between the surveyor’s assumptions in the home valuation survey and what is in the conveyancing documents. My lawyer informs me that he is obliged to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s approach 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.
I am considering applying for a Nottingham mortgage for purchase of a newly converted (under development) in Cringleford with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Nottingham ?
In theory, you could use a solicitor that is not on the Nottingham conveyancing panel, but Nottingham would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Me and my partner are buying a house in Cringleford. I might seem paranoid but how we can trust a lawyer? At some point we will need to deposit funds into their account. What is the protection we have from them run away with our deposit?
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.
I am due to exchange contracts on my apartment. I had a double glazing fitted in June 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Santander are being pedantic. The Cringleford solicitor who is on the Santander conveyancing panel is saying indemnity insurance will be fine but Santander are requiring a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Aldermore have agreed my mortgage in principle, my offer on a apartment in Cringleford has been agreed to, what happens next?
The estate agent will wish to know who your solicitors are (ensure that the conveyancing practitioners are on the bank’s panel). Call up Aldermore or the financial adviser and finish off any relevant paperwork. Aldermore will sellect a valuer who will get in touch with the selling agent or seller to book an appointment. Once conducted (assuming no problems) it takes approximately a week to get a mortgage offer. Aldermore will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Cringleford.
How does conveyancing in Cringleford differ for new build properties?
Most buyers of new build property in Cringleford approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is constructed. This is because developers in Cringleford tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Cringleford or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what should have been a quick, chain free conveyancing. Cringleford is the location of the property. Is there any guidance you can give?
Flying freeholds in Cringleford 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 Cringleford you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cringleford may decide 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.
My husband and I have just had an offer accepted on our 1st home in Cringleford, and need to get solicitors lined up. We have used the numerous comparison based websites and the quotes are from all over the country. Is it essential to have a Cringleford property lawyer local to your potential house? We are happy to do all the communicating electronically, but I am thinking at some stage we may be required to visit the lawyer's office to sign papers?
There is no requirement to physically visit the office of your lawyer, they can send any relevant contracts to you, which you can sign and return. Many home movers choose to instruct a locally based solicitor, but it's by no means essential for conveyancing in Cringleford.