Our Chafford Hundred solicitor has uncovered a discrepancy between the information in the home valuation survey and what is revealed within the conveyancing documents. My solicitor says that he is obliged to ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s stance appropriate?
Your lawyer 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.
We are planning to acquire a property and require a conveyancing solicitor in Chafford Hundred who is on the Coventry BS conveyancing panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Coventry BS . We don't recommend any particular firms conducting conveyancing in Chafford Hundred.
What does a local search inform me about the property we're buying in Chafford Hundred?
Chafford Hundred conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Searches UK The local search is essential in every Chafford Hundred conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your new home. The search will supply data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
I am buying a new build house in Chafford Hundred with a loan from Birmingham Midshires. The builders would not reduce the amount so I negotiated 6k of additionals instead. The property agent advised me not to tell my conveyancer about the extras as it would affect my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Chafford Hundred is where the house is located. Can you offer any guidance?
Flying freeholds in Chafford Hundred are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chafford Hundred 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 Chafford Hundred 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.