The Tring conveyancing firm handling our Tring conveyancing has discovered a discrepancy between the surveyor’s assumptions in the home valuation report and what is in the title deeds. My lawyer has advised that he is obliged to check that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s course or action legitimate?
Your solicitor 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 both parties.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Tring. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 1/9/2025, the requirements read as follows :
Are there restrictive covenants that are commonly picked up during conveyancing in Tring?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Tring. 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 am buying a new build house in Tring benefiting from help to buy. The developers refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not inform my lawyer about the extras as it may affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I opted to have a survey completed on a house in Tring ahead of instructing lawyers. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some lenders may not give a loan on a flying freehold property.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. Should you wish to call us we can look into this further with 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 Tring. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tring to see if the conveyancing will be more expensive.
I dont have enough spare money to pay a 10% deposit on my flat purchase in Tring , but I am anxious proceed. Do I have options?
One option is to try and agree a smaller deposit. Many vendors will agree to a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute