The Crosby conveyancing firm handling our Crosby conveyancing has discovered a difference when comparing the surveyor’s assumptions in the home valuation report and what is in the conveyancing documents. My solicitor says that he is obliged to check that the bank is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action legitimate?
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 you.
I had intended to instruct a conveyancing solicitor in Crosby for our house purchase. Our financial adviser informed us that our bank Bank of Scotland won't deal with them. Surely this is unfair competition?
A decade ago most mortgage companies had an appetite for risk which was higher than today. Almost all Crosby conveyancing firms would have been on many bank panels. The Financial Services Authority in 2010 carried out a thematic review into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more data from law firms concerning their operations and their employees and establishing certain criteria such a completing on a minimum volume of conveyancing. Many Crosby conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Crosby is one of the hundreds of areas where the solicitors we recommend are members of the panel for Bank of Scotland.
Will our lawyer be raising questions about flooding as part of the conveyancing in Crosby.
The risk of flooding is if increasing concern for lawyers dealing with homes in Crosby. There are those who buy a house in Crosby, fully expectant that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to give advice on flood risk, however there are a numerous checks that can be initiated by the purchaser or by their lawyers which can figure out the risks in Crosby. The conventional set of completed inquiry forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the seller to determine if the property has suffered from flooding. In the event that the residence has been flooded in past and is not notified by the seller, then a purchaser may issue a legal claim for losses resulting from an misleading reply. A purchaser’s conveyancers should also conduct an enviro search. This will indicate if there is any known flood risk. If so, further inquiries should be conducted.
I have justdiscovered that Stirling Law have been shut down. They conducted my conveyancing in Crosby for a purchase of a leasehold apartment 9 months ago. How can I establish that my home is not still registered in the name of the former proprietor?
The quickest way to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Crosby conveyancing specialists.
How does conveyancing in Crosby differ for new build properties?
Most buyers of new build premises in Crosby come to us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Crosby usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Crosby or who has acted in the same development.