The Godmanchester conveyancing firm handling our Godmanchester conveyancing has uncovered a discrepancy between the information in the valuation report and what is in the conveyancing documents. My lawyer has advised that he is duty bound to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s stance legitimate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions 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.
Can your site be used to recommend a Conveyancing solicitor in Godmanchester even where I’m not purchasing or selling a house, for example where I intend to buy an office in Godmanchester with a mortgage from Accord Mortgages Ltd?
Our search tool is mainly used to locate residential conveyancing solicitors in Godmanchester but we have listed towards the bottom of this page a few Godmanchester commercial conveyancing firms. You will need to make contact with the firm directly to establish if they are also authorised to represent Accord Mortgages Ltd
we are a couple who are buying a newly converted flat in Godmanchester with a mortgage from National Westminster Bank.We have a Godmanchester conveyancing solicitor but National Westminster Bank informed us her practice is not listed on their approved list of firms. we are left little option but to use a National Westminster Bank panel firm or keep our local solicitor and fork out for a National Westminster Bank panel lawyer to represent them. This seems very unfair; Can we not simply insist that National Westminster Bank use our lawyer?
No, not really. The loan issued to you is subject to its terms and conditions, one of which will be that solicitors must be on the National Westminster Bank solicitor panel. Until recently, most banks had large numbers of solicitors on their panels: a borrower could choose 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 National Westminster Bank
Me and my partner are buying a flat in Godmanchester. I might seem paranoid but how we can trust a conveyancer? On completion day we have to send 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.
We previously instructed conveyancers based in Godmanchester on the Nottingham solicitor panel. They have just billed me a further charge for the legal aspects of the Nottingham mortgage. Is this an additional conveyancing fee set by Nottingham?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitor is entitled to charge a fee for this. This charge is not dictated by Nottingham but by your Godmanchester conveyancer. Plenty of firms on the Nottingham panel will quote an ‘acting for lender’ fee and others do not.
We were going to get a AIP from Santander this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Santander recommend any Godmanchester solicitors on the Santander conveyancing panel, or is it better to go independently?
You will need to appoint Godmanchester solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
Do I need to be concerned about brokers that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a High Street Godmanchester conveyancing firm?
As with lots of professional services, often referrals from family and friends can be extremely useful or valuable. Nevertheless there are numerous parties with a keen interest in a conveyancing deal; estate agents, financial adviser and banks might all put forward lawyers to appoint. Sometimes the lawyers might be known to one of the organisations as being good in their field, but sometimes there may be a financial incentive behind the recommendation. You have the discretion to select your own conveyancer. You need to be aware that most banks specify a panel list of conveyancers you are obliged to use for the lender related work in your transaction.
Planning to sign contracts shortly on a basement flat in Godmanchester. Conveyancing lawyers have said that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Godmanchester should include some of the following:
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Will you be prohibited or prevented from having pets in the property? You should know whether the lease allows you to change or improve anything in the property- you should be made aware as to whether any restrictions relates to all alterations or just structural alteration, and whether licences for alterations is required Your conveyancers should enable you to have an understanding of the building insurance provisions if lease caters for for a reserve fund? You should receive a copy of the lease
I invested in buying a 1st floor flat in Godmanchester, conveyancing having been completed 7 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Godmanchester with an extended lease are worth £171,000. The ground rent is £50 invoiced every year. The lease ceases on 21st October 2104
You have 79 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.