I can't travel far from Crofton Park. Please spell out why all Crofton Park aren't automatically on all bank panels?

Before the recession most banks exhibited an attitude to risk which is different from today. The Financial Services Authority in 2010 carried out a thematic review into fraud which in summary warned lenders: know the on your panel. Consequently, lenders have subsequently soughtmore data from law firms about their operations and the staff employed by them and set certain criteria such as completing a minimum number of transactions. Thousands of firms have been excluded from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to meet the minimum amount of transactions the mortgage companies required.

Our Crofton Park lawyer has spotted an inconsistency when comparing the information in the valuation survey and what is revealed within the conveyancing documents. My solicitor has advised that he needs to ensure that the lender is with this discrepancy and is still content to lend. Is my solicitor’s course or action appropriate?

Your must comply with the UK Finance Lenders’ Handbook provisions 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.

Will my conveyancer be raising questions concerning flooding during the conveyancing in Crofton Park.

Flooding is a growing risk for solicitors conducting conveyancing in Crofton Park. There are those who purchase a house in Crofton Park, completely 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 obtain a mortgage, suitable insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.

Conveyancers are not best placed to impart advice on flood risk, however there are a numerous checks that can be carried out by the buyer or by their solicitors which can give them a better appreciation of the risks in Crofton Park. The standard completed inquiry forms supplied to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the seller to discover if the property has suffered from flooding. In the event that flooding has previously occurred and is not disclosed by the owner, then a purchaser could issue a legal claim for losses resulting from an inaccurate reply. The buyer’s lawyers may also carry out an enviro report. This will reveal if there is any known flood risk. If so, additional inquiries should be initiated.

I opted to have a survey done on a house in Crofton Park before appointing lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies tend not give a mortgage on a flying freehold house.

It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. If you contact us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Crofton Park. Conveyancing may be slightly more expensive based on your lender's requirements.

I'm remortgaging my primary property to a buy to let loan with and I will use the ballance of the raised equity as a down payment on further house. The area we are talking about is Crofton Park. Will your lawyers be able to act for the two lenders and link together the transactions?

Make use of our comparison tool on this site to check that the solicitors are on the appropriate lender panels. Assuming that they are the solicitor should be able to connect the two transactions but you should talk with you lawyer and make apparent your desired outcome and needs.