My Llandudno conveyancer has discovered a discrepancy between the surveyor’s assumptions in the valuation survey and what is revealed within the conveyancing documents. My solicitor has advised that he must ensure that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s approach legitimate?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions 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.
At what point does exchange of contracts occur in domestic conveyancing in Llandudno and do I need to be at the conveyancers office?
If you are round the corner to one of the conveyancing solicitors in Llandudno you are invited in to sign documents. That being said, the firms we work with supply a countrywide conveyancing service and give just as diligent and professional a job for you when communicating with you electronically. The executing of the property agreement is not the critical part. A signed contract simply enables the conveyancer to exchange contracts at the suitable time, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Llandudno)to be in the office at the appropriate time.
I'm the only beneficiary of my late father’s will with all property in now in my sole name, including the house in Llandudno. Conveyancing formalities meant that the Land Registry date was in September. I now wish to sell up. I do know about the CML six month 'rule', meaning my property ownership may be regarded the same way as though I had purchased the house in September. Do I have to wait 6 months to sell?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. Some mortgage companies would take a practical view as this obligation principally exists to capture subsales or the flipping of property.
I had a mortgage agreed in principle with Kent Reliance. Llandudno conveyancing lawyers have been chosen. What is the average time that one could expect to receive a mortgage offer from Kent Reliance?
There is no definitive answer here. Have Kent Reliance conducted the valuation? Have you informed Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am currently in the process of buying my council flat in Llandudno. I have a mortgage offer with Lloyds. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I'm buying a new build house in Llandudno with the aid of help to buy. The builders refused to budge the price so I negotiated £7000 of extras instead. The estate agent advised me not inform my conveyancer about the side-deal as it will jeopardize my loan with Godiva Mortgages Ltd. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
How simple is it to swap solicitor as I need to find a firm on the Britannia conveyancing panel. I was using a high street conveyancing solicitor in Llandudno round the corner but the firm is not accepted by Britannia
It would be our pleasure to assist you select a conveyancing solicitor in Llandudno on the Britannia panel. Please note that the conveyancers that we on the directory do not pay us commission if you instruct them and are regulated by the SRA who oversee all conveyancing solicitors in Llandudno. In making use of search facility on this site, you can contrast charges for conveyancing solicitors in Llandudno and beyond.
My nephew is just in the process of moving house, the home loan was agreed last week in principle. When the offer was accepted on apartment we telephoned the mortgage institution to move forward with his. I was shocked to discover that banks do not accept all conveyancer, they must be on their panel, is this right?
Lenders normally restrict either the type or the number of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Llandudno lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.