My wife and I have recently appointed a conveyancing solicitor in Wimborne Minster. I I would like to check if they are on the Bank of Ireland approved list of lawyers. Could you assist?
You should phone the conveyancer and enquire whether they can act for the lender. Otherwise you can call Bank of Ireland who may be able to assist.
We are close to exchanging contracts on the sale of our property in Wimborne Minster and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. A local conveyancer would know that there is no such problem. It does beg the question why the purchasers instructed a factory type conveyancing firm as opposed to a conveyancing solicitor in Wimborne Minster. We have lived in Wimborne Minster for 5 years we know of no issue. Should we get in touch with our local Authority to obtain clarification that there is no issue.
It sounds as though you may have a conveyancing firm currently acting for you. What do they say? You must check with 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 following my purchase conveyancing in Wimborne Minster concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. 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 buying a new build house in Wimborne Minster with a mortgage from Barnsley Building Society. The sellers refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The property agent advised me not inform my solicitor about the deal as it would adversely affect my loan with the lender. Is this normal?.
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've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Wimborne Minster is the location of the property. What do you suggest?
Flying freeholds in Wimborne Minster are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wimborne Minster you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wimborne Minster 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.
Our solicitor in Wimborne Minster has discovered a defect with the lease for the property we are buying in Wimborne Minster. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer says that as he is on the lender conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the mortgage company?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. A precondition to being on the bank approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . 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.