Our Yoxall lawyer has identified a difference between the information in the home valuation report and what is in the title deeds. My solicitor says that he is duty bound to ensure that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s stance right?
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 considering applying for a Co-operative mortgage for purchase of a new build (under development) in Yoxall with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Co-operative ?
There is nothing to stop you using your solicitor, but Co-operative will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Should my lawyer be raising enquiries about flooding during the conveyancing in Yoxall.
Flooding is a growing risk for solicitors carrying out conveyancing in Yoxall. There are those who purchase a property in Yoxall, completely aware that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, however there are a numerous checks that may be undertaken by the buyer or on a buyer’s behalf which will give them a better understanding of the risks in Yoxall. The standard completed inquiry forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the seller to find out if the premises has suffered from flooding. If the property has been flooded in past which is not disclosed by the seller, then a purchaser may issue a legal claim for losses resulting from an incorrect reply. The buyer’s solicitors will also conduct an enviro report. This should disclose if there is any known flood risk. If so, additional investigations should be carried out.
3 months have gone by following my purchase conveyancing in Yoxall took place. I have checked the Land Registry website which shows that I paid £200,000 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 premises 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.
In my capacity as executor for the estate of my grandfather I am disposing of a house in Swansea but I am based in Yoxall. My solicitor (based 300 miles awayneeds me to execute a statutory declaration ahead of completion. Can you recommend a conveyancing lawyer in Yoxall who can attest this legal document for me?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will suffice regardless of whether they are Yoxall based
I was advised by my bank that their approved conveyancers operate no sale no fee basis for conveyancing in Yoxall. Our purchase fell through and now the solicitors want search fees! They are stating that the fees are seperate!
Yoxall conveyancing search costs are disbursements not legal costs as these are paid to a third party.