Our Penge lawyer has discovered an inconsistency between the surveyor’s assumptions in the valuation survey and what is revealed within the title deeds. My solicitor has advised that he is duty bound to ensure that the bank is OK with this discrepancy and is still content to lend. Is my lawyer’s approach appropriate?
Your solicitor 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.
My brother-in-law has suggested I instruct a conveyancing solicitor in Penge. I I am struggling to find out if they are on the Bank of Ireland approved list of lawyers. Can you assist?
You should phone your solicitor and enquire whether they can act for the bank. Otherwise you should get in touch with Bank of Ireland who may be able to help.
Will our solicitor be asking questions regarding flooding as part of the conveyancing in Penge.
Flooding is a growing risk for solicitors dealing with homes in Penge. There are those who acquire a property in Penge, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, however there are a various searches that may be undertaken by the purchaser or on a buyer’s behalf which will figure out the risks in Penge. The standard property information forms supplied to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the owner to find out whether the property has suffered from flooding. If the premises has been flooded in past and is not disclosed by the seller, then a purchaser may commence a legal claim for losses as a result of such an inaccurate response. The buyer’s solicitors may also commission an enviro report. This should disclose if there is a recorded flood risk. If so, further investigations should be conducted.
I am one month into a freehold purchase having been recommend to solicitors by the selling agent to do our conveyancing in Penge. I am not happy. Could you you assist me in finding new solicitors?
They would have to be very poor to suggest replacing them. Has your mortgage offer been issued? If so you need to inform them of the replacement solicitor and have the mortgage documents are re-sent. Your solicitor ideally needs to be on the banks panel to avoid escalating charges and frustration. That should be your starting point. Our find a solicitor tool can assist you in finding a lender approved solicitor for your home move in Penge
Should I stop my mortgage payments with Skipton as soon as a completion date for my sale in Penge has been set?
You would be well advised to maintain meeting any mortgage sums to Skipton until the mortgage is discharged from the proceeds of sale as part of your Penge conveyancing.