My Leven solicitor has identified a difference between the assumptions in the home valuation report and what is in the conveyancing documents. My solicitor has advised that he needs to ensure that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s approach appropriate?
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 both parties.
Why is leasehold purchase conveyancing in Leven is more expensive?
In summary, leasehold conveyancing in Leven and elsewhere usually warrants additional hours of investigation compared to freehold transactions. This includes reviewing the lease, corresponding with the landlord about serving required notices, securing up-to-date service charge and management information, procuring the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
Have just purchased a probate house at auction in Leven. Conveyancing is required. What are my next steps?
Given that you are now to all intents and purposes signed on the dotted line you will need to find a conveyancing practitioner soon as you are faced with a tight deadline in which to complete the property. An auction property will have an associated auction pack. This will include evidence of title and search results. If you have purchased leasehold premises the conveyancing papers may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to leasehold premises. You must hand this to the conveyancer instructed by you ASAP. Do make sure that you have funds organised to complete the transaction on the set completion date.
I recently had an offer accepted on a house in Leven. My financial adviser recommended their conveyancers. I paid an on account payment of £150. Soon after, the lawyer contacted me to say that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am selling my apartment. I had a double glazing fitted in June 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, UBS are being a right pain. The Leven solicitor who is on the UBS conveyancing panel is saying indemnity insurance will be fine but UBS are insisting on a building regulation certificate. Why do UBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that UBS have referred the matter to their valuer. The reason why UBS 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.
I am purchasing a new build house in Leven with the aid of help to buy. The builders would not budge the amount so I negotiated 6k of additionals instead. The estate agent advised me not reveal to my solicitor about this side-deal as it could jeopardize my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 opted to have a survey carried out on a house in Leven before retaining lawyers. I have been informed that there is a flying freehold element to the property. The surveyor has said that some mortgage companies may refuse to give a loan on such a premises.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Leven. Conveyancing will be smoother if you use a solicitor in Leven especially if they are acquainted with such properties in Leven.
My partner has urged me to appoint his conveyancing solicitors in Leven. Should I use them?
Much as we are happy to recommend a Leven conveyancing lawyer it’s preferable to select a conveyancing solicitor is to seek feedback from friends or family who have used the conveyancer that you are contemplating using.