The Brackley conveyancing firm handling our Brackley conveyancing has discovered an inconsistency between the surveyor’s assumptions in the home valuation survey and what is in the legal papers for the property. My solicitor has advised that he must ensure that the lender is happy with this discrepancy and is content to go ahead. Is my lawyer’s approach right?
Your lawyer must comply with the UK Finance Lenders’ Handbook requirements 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 Bank of Ireland mortgage for purchase of a newly converted (under development) in Brackley with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Bank of Ireland ?
In theory, you could use a solicitor that is not on the Bank of Ireland conveyancing panel, but Bank of Ireland would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I am the single beneficiary of my late grandmother’s estate and I have everything in my name now, including the my former home in Brackley. Conveyancing formalities meant that the Land Registry date was in December. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship may be treated the same way as if I'd bought the house in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. How practical a view banks take of it, depend on the bank as this provision is primarily there to identify subsales or the quick reselling of properties.
We previously chose conveyancers based in Brackley on the Bank of Ireland solicitor panel. They have just invoiced me a separate fee for handling the Bank of Ireland mortgage. Is this an additional conveyancing fee set by Bank of Ireland?
As unfair as it may appear, as long as it’s in their Terms of Engagement or Quote then yes your conveyancer is entitled to levy a fee for this. This charge is not set by Bank of Ireland but by your Brackley lawyer. Numerous firms on the Bank of Ireland panel will charge an ‘acting for lender’ fee and others do not.
Yorkshire BS have agreed my home loan in principle, my bid on a apartment in Brackley has been agreed to, now what?
The property agent will want to know who your solicitors are (be sure the lawyers are on the bank’s approved list). Telephone Yorkshire BS or the financial adviser and finalise any outstanding documentation. Yorkshire BS will appoint a valuer who will get in touch with the estate agent or seller to arrange a slot for the valuation to take place. Once conducted (assuming no problems) it takes on average a week for the mortgage offer to be issued. Yorkshire BS will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Brackley.
We are selling our property in Brackley and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A local lawyer would know this is not the case. It does beg the question why the buyers instructed a national conveyancing outfit rather than a conveyancing solicitor in Brackley. Having lived in Brackley for six years we know of no issue. Do we contact our local Authority to obtain clarification need.
It would appear that you have a conveyancing solicitor currently acting for you. Are they able to advise? You need to 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 illness)
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Brackley is where the house is located. Can you offer any assistance?
Flying freeholds in Brackley are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Brackley you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Brackley 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 premises.