My Southwell lawyer has discovered an inconsistency between the information in the home valuation survey and what is in the conveyancing documents. My solicitor informs me that he must ensure that the bank is OK with this discrepancy and is still content to lend. Is my lawyer’s course or action correct?
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.
My uncle passed away 10 months ago and as sole heir and executor I was left the house in Southwell. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Skipton, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then Skipton will insist on your using a conveyancer on the Skipton conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Skipton conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Skipton mortgage is registered as a charge at the Land Registry.
My bid for a property was accepted at auction in Southwell. Conveyancing is required. What are my next steps?
Having legally committed yourself to purchase you will need to retain a conveyancing lawyer as a matter of priority as you now have a tight a drop dead date to complete the transaction. An auction property should have an associated auction pack. This will likely include most,if not all of the documents that your solicitor requires. If you have purchased leasehold property the conveyancing papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to a leasehold property. You should pass this on to the conveyancer instructed by you as soon as possible. You also need to ensure that you have funds organised to complete on the on the contractual date .
I'm the only beneficiary of my late mum's estate with all property in now in my sole name, including the house in Southwell. The Southwell property was put into my name in April. I want to move. I understand that there is a CML six month 'rule', which means that my property ownership may be regarded the same way as though I had purchased the house in April. Is the property unsalable for six months?
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." Technically you might be affected by that. Some lenders would take a pragmatic view as this provision is primarily there to pick up on the purchase and immediately sell or the quick reselling of property.
I was told four weeks ago that my mortgage has been agreed to by Skipton. Is it usual for Skipton to only issue the offer once my solicitor in Southwell is approved on their conveyancing panel? Skipton have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
My wife and I own a terraced Victorian property in Southwell. Conveyancing lawyer acted for me and Barnsley Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold under the exact same address. Is it worth asking Barnsley Building Society to clarify?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Southwell and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing lawyer who conducted the work.
I am purchasing a new build house in Southwell benefiting from help to buy. The sellers refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not to tell my conveyancer about this side-deal as it will affect my mortgage with Norwich and Peterborough Building Society. 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.
My father-in-law has suggested that I use his conveyancers in Southwell. Do I take his recommendation?
There are no two ways about it the ideal way to choose a conveyancing practitioner is to get feedback from friends or family who have previously instructed the firm that you are are thinking of instructing.