Our Wantage conveyancer has spotted a discrepancy between the information in the valuation survey and what is in the legal papers for the property. My solicitor has advised that he needs to check that the bank is happy 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 provisions 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.
I am assisting my niece sell her house in Wantage. Will the conveyancer order an energy performance certificate or it is for me to coordinate?
Following the demise of Home Information Packs, energy assessments remained a compulsory element of moving property. An energy assessment should be commissioned in advance of the property being advertised. This is not as aspect of the sale process that solicitors ordinarily organise. If you are instructing a Wantage conveyancing lawyer they might help arrange energy performance certificates due to their relationships with reputable Wantage assessors
Is it the case that all Wantage solicitors on the HSBC conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the HSBC conveyancing panel they would need to be regulated by the SRA. Some lenders do permit licenced conveyancers on their panel in which case such practice would be regulated by the CLC.
I recently had an offer agreed on a house in Wantage. My mortgage broker recommended their conveyancers. I paid an advanced payment of £225. A couple of days later, the conveyancing practitioner contacted me sheepishly admitting that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am buying a new build apartment in Wantage. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Wantage
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Please supply a car parking plan. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Wantage is where the house is located. What do you suggest?
Flying freeholds in Wantage are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wantage you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wantage may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am using a search engine for the term conveyancing in Wantage it shows results of many solicitorslocally. With so much choice what is the best way to find the right conveyancing solicitor for my move?
The preferential way of choosing the right conveyancer is through a trusted referral, so seek the opinion of colleagues and those you trust who have acquired a property in Wantage or the reputable estate agent or financial adviser. Costs for conveyancing in Wantage differ, so it's advisable to request at least four fee calculations from varying types of companies. Be sure to seek confirmation that the costs are guaranteed not to rise.
My brother mentioned that when selecting a conveyancing firm they need approved by your bank. This is my first home move but I have an AIP with Virgin Money and I already have a bricks and morter conveyancing solicitor in Wantage lined up. Does Virgin Money insist on an approved solicitor to be instructed? If so, where do I find that list so I can pick a conveyancing lawyer in Wantage?
You should use a solicitor that is on the Virgin Money panel. Simply telephone your preferred Wantage conveyancing solicitor and ask if they are on the Virgin Money panel. If they are not approved you have a number of alternatives open to you here:
- Complete the deal with your chosen Wantage lawyer but Virgin Money will no doubt retain a lawyer on their approved list. The net impact is additional cost together with probable interruption.
- Choose a new solicitor to act in the purchase, ensuring that they are on the Virgin Money conveyancing panel.
- Appeal to your solicitor to seek to join the bank panel.