My Hathern lawyer has discovered an inconsistency between the surveyor’s assumptions in the home valuation report and what is revealed within the legal papers for the property. My lawyer has advised that he is duty bound to ensure that the lender is happy with this discrepancy and is still content to lend. Is my solicitor’s stance appropriate?
Your conveyancer 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.
Please help - my lawyer advises that missing deeds insurance is required on my purchase. What is the level of cover for Hathern conveyancing?
The right level of missing deeds indemnity insurance depends on your lender. It would differ for example between Santander and The Mortgage Works. Conveyancing lawyers as opposed to borrowers take out such insurances.
Is it the case that all Hathern CQS (Conveyancing Quality Scheme) solicitors are on the Lloyds conveyancing list of approved practices?
A selection of lenders now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
When it comes to lenders such as Virgin Money, do Hathern property lawyers incur an annual charge to be on the conveyancing panel?
We are unaware of any lender fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a quick, no chain conveyancing. Hathern is the location of the property. Is there any guidance you can impart?
Flying freeholds in Hathern are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hathern you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hathern 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.
My husband and I are FTB’s - agreed a price, but the agent informed us that the vendor will only go ahead if we instruct their recommended conveyancers as they want an ‘expedited deal’. We would rather use a family solicitor accustomed to conveyancing in Hathern
It is unlikely the vendors are driving this. Should the seller require ‘a quick sale', turning down a motivated purchaser is likely to cause more damage than good. Avoid the agents and go straight to the owners and make the point that (a)you are motivated buyers (b)you are ready to go, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)however you are going to appoint your own,trusted Hathern conveyancing solicitors - not the ones that will give their negotiator at the agency a introducer fee or achieve conveyancing figures pre-set by HQ.
My step-mother purchased her house in Hathern in 2005. She has got married, divorced and in recent months got married again. She now wishes to dispose of the Hathern property. I suspect that she will just be asked to provide a copy of her marriage certificates to the conveyancing practitioner however she is concerned it will hold up the conveyancing. Should she instruct a conveyancing practitioner to update the Land Registry documents for the house?
The is no need to update the register on the basis that you have the proof needed to demonstrate how the name change resulted.
The buyer’s property lawyer will check the land registry details and require evidence by way of proof of the change of name e.g. marriage documentation.