My North Kensington conveyancer has identified a difference between the surveyor’s assumptions in the home valuation report and what is revealed within the conveyancing documents. My lawyer informs me that he needs to check that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s approach appropriate?
Your property lawyer 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.
As someone not used to the North Kensington conveyancing process what is the number one tip you can give me concerning the ownership transfer in North Kensington
Not many law firms shout this from the rooftops but conveyancing in North Kensington and elsewhere in England and Wales is often a confrontational process. Put another way, when it comes to conveyancing there exists plenty of opportunity for conflict between you and others involved in the transaction. For instance, the seller, estate agent and sometimes the mortgage company. Selecting a law firm for your conveyancing in North Kensington is a critical decision as your conveyancer is your adviser, and is the SOLE person in the process whose responsibility is to look after your best interests and to protect you.
Sometimes a third party with a vested interest will attempt to persuade you that it is in your interests to do things their way. For example, the selling agent may claim to be helping by claiming that your lawyer is wrong. Or your mortgage broker may advise you to do take action that is contrary to your solicitors guidance. You should always trust your lawyer above all other parties in the conveyancing process.
My wife and I have recently appointed a conveyancing solicitor in North Kensington. I I would like to check whether they are on the Bank of Ireland approved list of lawyers. Could you advise?
You should phone the solicitor and ask them whether they are on the lender panel. Alternatively please get in touch with Bank of Ireland who may be able to confirm.
Are there restrictive covenants that are commonly identified during conveyancing in North Kensington?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in North Kensington. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm refinancing my existing home to a BTL mortgage with The Mortgage Works and I will use the ballance of the raised equity as a deposit on a second house. The location we are interested in is North Kensington. Will your lawyers be able to act for the two mortgage companies and tie in the conveyances?
Make use of our comparison tool on this site to ensure that the solicitors are on the relevant lender panels. Assuming that they are your solicitor should be able to connect the two transactions but you should talk with you conveyancer and make clear your desired outcome and needs.