Our Gloucestershire solicitor has discovered an inconsistency between the surveyor’s assumptions in the home valuation survey and what is revealed within the title deeds. My solicitor has advised that he needs to ensure that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s stance appropriate?
Your conveyancing practitioner 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.
Why do I have to pay up front for conveyancing in Gloucestershire?
If you are buying a property in Gloucestershire your lawyer will ask you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. When the down payment is payable against the sale price then this will be required immediately ahead of exchange of contracts. The closing balance that is due will be payable shortly before completion.
I am intent on selling our house in Gloucestershire and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any local conveyancer would know that there is no such problem. It does beg the question why the purchasers used a national conveyancing outfit rather than a conveyancing solicitor in Gloucestershire. Having lived in Gloucestershire for 5 years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain confirmation that there is no issue.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
Due to the input of my in-laws I had a survey completed on a house in Gloucestershire prior to appointing solicitors. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some banks tend not give a loan on this type of premises.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. If you e-mail us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Gloucestershire. Conveyancing may be slightly more expensive based on your lender's requirements.
We're FTB’s - had an offer accepted, yet the selling agent informed us that the owners will only issue a contract if we use the agent's preferred solicitors as they want an ‘expedited deal’. We would rather use a high street solicitor with experience of conveyancing in Gloucestershire
It is improbable the sellers are driving this. If they require ‘a quick sale', alienating a motivated purchaser is counter productive. Bypass the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you are going to use your own,trusted Gloucestershire conveyancing firm - as opposed tothe ones that will earn their estate agent a kickback or meet his conveyancing figures set by senior management.