My financial adviser says he needs my Suffolk solicitor’s panel reference for the HSBC conveyancing panel. Can you suggest how I discover this. I have contacted my local Suffolk office but they cant find it on their system.
The sensible thing to do is ask for this information from your Suffolk lawyer . They should have a central record lender panel numbers.
My wife and I have recently appointed a conveyancing solicitor in Suffolk. I I would like to check if they are accepted on the The Royal Bank of Scotland conveyancing panel. Can you advise?
The first thing you should do is contact the lawyer and ask them if they can act for the lender. Alternatively please call The Royal Bank of Scotland who may be able to help.
Will our conveyancer be raising enquiries about flooding as part of the conveyancing in Suffolk.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Suffolk. There are those who acquire a property in Suffolk, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the property. 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 checks that can be undertaken by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Suffolk. The conventional set of completed inquiry forms sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a usual inquiry of the vendor to determine if the property has suffered from flooding. In the event that the residence has been flooded in past and is not revealed by the seller, then a buyer may bring a claim for damages resulting from an inaccurate response. The buyer’s lawyers may also carry out an environmental report. This should indicate whether there is a recorded flood risk. If so, more detailed investigations will need to be conducted.
It has been 4 months since my purchase conveyancing in Suffolk completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 residence 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'm converting the mortgage on my existing house to a BTL mortgage with Accord Mortgages Ltd and intend to use the remaining equity towards further house. The location we are talking about is Suffolk. Will your conveyancers be able to act for both sets of mortgage companies and link together the transactions?
Do use our comparison tool on this page to check that the solicitors are on the appropriate lender panels. Assuming that they are the conveyancer will be able to simultaneously deal with the two deals but you should have a chat with you solicitor and specify your desired outcome and requirements.
In relation to leasehold conveyancing in Suffolk what are the most common lease problems?
Leasehold conveyancing in Suffolk is not unique. All leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts.
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Barnsley Building Society, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.
Suffolk Leasehold Conveyancing - Examples of Questions you should ask Prior to buying
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Please note that where the lease has fewer than 80 years it will impact the marketability of the property. Check with your mortgage company that they are happy with residual term of the lease. Leases with less than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth discovering what this would cost. Remember, in most cases you will need to own the premises for a couple of years in order to be legally able to extend the lease. Generally speaking the cost for major works tend not to be incorporated into the maintenance charges, albeit that some managing agents in Suffolk require leasehold owners to contribute towards a reserve fund created for the specific intention of building a fund for larger repairs or maintenance.