The Messingham conveyancing firm handling our Messingham conveyancing has discovered a discrepancy when comparing the assumptions in the home valuation report and what is in the conveyancing documents. My lawyer says that he needs to check that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s course or action correct?
Your lawyer must comply with the UK Finance Lenders’ Handbook specifications 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.
Have just purchased a repossessed house at auction in Messingham. Conveyancing is needed. What are my next steps?
Given that you are now exchanged you should appoint a conveyancing practitioner as a matter of urgency as you now have a pending a drop dead date to complete the purchase. An auction property should have a bespoke auction pack. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the auction papers may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You need to pass this on to the lawyer working for you at the earliest opportunity. You also need to ensure that your finances are in order to complete the transaction on the set completion date.
We have a mortgage agreed in principle with Bank of Ireland. Messingham conveyancing practitioners have been appointed. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
There is no definitive answer here. Have Bank of Ireland done the survey? Have you advised Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have a mortgage with RBS for my property in Messingham. Conveyancing was finalised months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform RBS?
Your original mortgage agreement with RBS will provide that you need their approval in advance of renting your property as this is likely to be a breach of RBS’s mortgage conditions. It may be that RBS will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact RBS directly. It should not be necessary to do this via a RBS conveyancing panel solicitor.
Should our solicitor be raising enquiries regarding flooding during the conveyancing in Messingham.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Messingham. Plenty of people will buy a house in Messingham, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, but there are a various searches that may be undertaken by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Messingham. The conventional set of completed inquiry forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the seller to discover if the property has suffered from flooding. If the residence has been flooded in past which is not disclosed by the owner, then a purchaser may commence a claim for damages resulting from an incorrect reply. A purchaser’s conveyancers should also order an environmental report. This should higlight if there is a recorded flood risk. If so, more detailed inquiries should be conducted.
Are there restrictive covenants that are commonly identified as part of conveyancing in Messingham?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Messingham. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I opted to have a survey done on a property in Messingham ahead of retaining solicitors. I have been informed that there is a flying freehold overhang to the house. My surveyor advised that some banks may refuse to give a loan on such a property.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. If you e-mail us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Messingham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Messingham to see if the conveyancing costs will increase in light of this.
Me and my partner are purchasing a 2 room maisonettein Messingham with a residential mortgage from a bank. We would like to retain our solicitor in Messingham but our bank inform us now that she’s not approved on their "panel". We have to appoint one of the our lender panel firms or stay with our Messingham solicitor and incur the extra costs for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The bank home loan offered to you is subject to its terms and conditions, one of which will be that solicitors will on the lender's conveyancing panel. Until recently, most banks had large numbers of law firms on their panels, including many conveyancing solicitors in Messingham : a mortgagee 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 lawyer to apply to be on the conveyancing panel for your bank.