My Studley solicitor has identified a discrepancy between the assumptions in the home valuation survey and what is revealed within the title deeds. My solicitor informs me that he must check that the bank is OK with this discrepancy and is still content to lend. Is my lawyer’s stance correct?
Your conveyancing practitioner 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.
we are a couple who intend to purchase a newly converted apartment in Studley with a mortgage from Yorkshire Building Society.We have a Studley conveyancing lawyer but Yorkshire Building Society informed us he's not listed on their approved list of member firms. We have to appoint a Yorkshire Building Society panel firm or keep our preferred solicitor and pay for a Yorkshire Building Society panel lawyer to act for them. This seems very unfair; Can we not simply insist that Yorkshire Building Society use our lawyer?
No, not really. The loan offered to you is subject to its terms and conditions, a common one being that lawyers must be on the Yorkshire Building Society conveyancing panel. Until recently, most lenders had large numbers of solicitors on their panels: a borrower 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Yorkshire Building Society
I am helping my aunt sell her flat in Studley. Will the conveyancing solicitor order the EPC or should I organise this?
After the abolition of Home Packs, energy performance certificates was retained a mandatory element of moving house. An energy assessment should be commissioned prior to the property being marketed. It is not something that conveyancers ordinarily organise. If you are instructing a Studley conveyancing practitioner they might help arrange energy assessments due to their contacts with long established local energy assessors
We were going to get a DIP from Aldermore this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Aldermore recommend any Studley solicitors on the Aldermore conveyancing panel, or is it better to go independently?
You will need to appoint Studley solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
I'm at the point of viewing houses in Studley and I am now considering a potential offer. Is it too early to have a solicitor in place? I intend to finance via a mortgage with Coventry BS.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are obtaining a mortgage with Coventry BS, ask your prospective lawyers if they are on the Coventry BS conveyancing panel otherwise they can't do the mortgage legal work.
We are selling our property in Studley and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers instructed a national conveyancing practice rather than a conveyancing solicitor in Studley. Having lived in Studley for many years we know that this is a non issue. Do we get in touch with our local Authority to seek clarification that there is no issue.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
It has been three months since my purchase conveyancing in Studley took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I was recommended by a few estate agents in Studley to locate a conveyancer using your seach tool. Is there a financial incentive for Estate Agents to offer your site ahead of a competitor’s?
We don’t give any commission for sending work in our direction. We thought it would be too underhand a fee because members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.