My Wendover lawyer has spotted an inconsistency between the assumptions in the valuation report and what is revealed within the conveyancing documents. My solicitor has advised that he is obliged to check that the lender is happy with this discrepancy and is still content to lend. Is my conveyancer’s stance appropriate?
Your conveyancer 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.
It is 10 years ago since I acquired my house in Wendover. Conveyancing lawyers have just been retained on the sale but I am unable to track down the title deeds. Will this jeopardise the sale?
Don’t worry too much. First the deeds may be retained by your lender or they may still be with the solicitor who handled your purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors procuring current official copies of the land registers. Nearly all conveyancing in Wendover relates to registered property but in the unlikely event that your property is not registered it adds to the complexity but is resolvable.
Should commercial conveyancing searches reveal impending roadworks that could affect a commercial land in Wendover?
Many commercial conveyancing solicitors in Wendover will conduct a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Wendover. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Wendover.
For every commercial conveyancing transaction in Wendover it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may cause delays to Wendover commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Wendover.
Just acquired a semi-detached house in Wendover , how long will it take for the Land Registry to record the transfer to my name? My Wendover conveyancing solicitor has been painfully slow, so I want to be certain that my ownership is recorded.
As far as conveyancing in Wendover registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timeframes can adjust according to the party submitting the application, whether it is in order and whether the Land registry need to notify any interested persons or bodies. Currently in the region of three quarters of such applications are fully dealt with in less than three weeks but some can be subject to protracted hold-ups. Historically registration is effected once the buyer has moved in to the property therefore 'speed' is not usually top priority but if it is urgent that the the registration takes place urgently then you or your lawyers should communicate with the Registry to express the reasoning for the application to be prioritised.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Wendover is the location of the property. Can you shed any light on this issue?
Flying freeholds in Wendover are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wendover you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wendover may determine 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 residence.
My wife and I are buying a first floor flat in Wendover. When we first instructed solicitor, we were told they were on all mainstream bank panels. The financial adviser emailed yesterday to advise that they don't appear to be on the Leeds Building Society approved list. Were it to be true, what should we do? Do we just choose a new property lawyer that is on their approved list or do we cover the costs for dual representation, with Leeds Building Society appointing their own approved lawyer.
When acquiring a property with the benefit of a mortgage it is standard for the purchaser’s lawyers to also represent the purchaser's lender. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's list of approved lawyers. An application has to be made by the lawyer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the conveyancing practitioner has to fulfill. Some mortgage companies now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your lawyer should call Leeds Building Society to discover if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on Leeds Building Society's conveyancing panel as you are at liberty to use your preferred Wendover lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another conveyancing practitioner into the mix.