Our Mere solicitor has uncovered a difference between the assumptions in the home valuation report and what is in the legal papers for the property. My solicitor informs me that he is obliged to check that the lender is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action legitimate?
Your solicitor 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.
Please explain the implications if my solicitor is removed from the Skipton Conveyancing panel ahead of completing my conveyancing in Mere?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
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. Mere is where the house is located. What do you suggest?
Flying freeholds in Mere are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Mere you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mere may decide 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 looking into buying my first house which is in Mere and I am already nervous. I couldn't find anything specific about Mere. Conveyancing will be needed in due course but do you know about the Mere area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Mere. In the meantime here are some basic statistics that we found
I am a couple of weeks into a freehold purchase having been recommend to solicitors by the high street agent to carry out the conveyancing in Mere. We are not happy. Can you help me find new lawyers?
They would have to be really bad in order to consider replacing them. Has your mortgage offer been sent? In the event that it has you must inform them of the replacement solicitor and have the mortgage documents are issued to the new lawyers. The conveyancer needs to be on the lenders approved list to avoid escalating costs and complications. So that should be your starting point. The find a solicitor tool can assist you in finding a lender approved conveyancer for your conveyancing in Mere