The Market Rasen conveyancing firm handling our Market Rasen conveyancing has discovered an inconsistency between the assumptions in the valuation report and what is in the title deeds. My lawyer says that he is obliged to check that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s stance legitimate?
Your lawyer 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 you.
Completed the sale of my flat in Market Rasen last July but the buyer keeps Skype messaging daily to moan that her conveyancer needs to hear from mysolicitor. What are the post completion sale formalities now that I have sold?
Following your sale your conveyancer is duty bound to send the transfer deeds and all of the paperwork to the buyer’s lawyers. Where relevant, your lawyer should also send confirmation that the home loan has been redeemed to the buyers lawyers. There are no post completion formalities unique to conveyancing in Market Rasen.
I am considering applying for a RBS mortgage for purchase of a new build (under development) in Market Rasen with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for RBS ?
There is nothing to stop you using your solicitor, but RBS will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I am the only beneficiary of my late mum's estate with all property in now in my sole name, including the house in Market Rasen. Conveyancing formalities meant that the Land Registry date was in April. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership may be treated the same way as though I had purchased the house in April. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How practical a view banks take of it, depend on the lender as this provision chiefly exists to pick up on the purchase and immediately sell or the wholesaling and assigning of properties.
How can we tell if a Market Rasen conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Market Rasen getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor carrying out your conveyancing.
I am selling my house. I had a double glazing fitted in March 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Bank of Ireland are being a right pain. The Market Rasen solicitor who is on the Bank of Ireland conveyancing panel is saying indemnity insurance will be fine but Bank of Ireland are insisting on a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland 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.
A colleague advised me that if I am buying in Market Rasen I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Market Rasen conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Market Rasen around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information concerning Market Rasen.
Builders have put forward a solicitor and I've obtained a quote from them. It's nearly three hundred pounds less expensive than my local Market Rasen conveyancing practitioner. What's the catch?
Housebuilders often have panels of property lawyers who expedite matters and who know the seller’s contract and solicitor. Plenty of developers offer an incentive to choose their approved conveyancing practitioner for this reason, any increased cost can be avoided and a developer will not suggest a conveyancing warehouse and run the risk of having the transaction delayed when they require an exchange in 28 days. A counter-argument for not opting for the recommended lawyer is that they may be reluctant to fight for your interests at the risk of upsetting the housebuilder. If you worry that this may be the situation you should remain with your local Market Rasen conveyancing practitioner.