Our Kingsbridge conveyancer has uncovered a discrepancy between the information in the valuation report and what is in the legal papers for the property. My lawyer has advised that he is obliged to check that the bank is OK with this discrepancy and is still content to lend. Is my lawyer’s course or action legitimate?
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 you.
When does exchange of contracts happen for residential conveyancing in Kingsbridge and am I required to be at the lawyers branch?
If you are round the corner to our conveyancing solicitors in Kingsbridge you are welcome to attend to sign documents. That being said, the law practices we work with provide a national conveyancing service and give as equally diligent and professional a job for you when communicating with you digitally. The signing of the contract is not the point of no return. A signed contract is just a prerequisite for the conveyancer to address the formalities when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Kingsbridge)to be in the office at the appropriate time.
My uncle passed away last year and as sole heir and executor I was left the property in Kingsbridge. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to , pay off the mortgage. Is this allowed?
If you plan to re-mortgage then will require that you use a conveyancer on the conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the mortgage is registered as a charge at the Land Registry.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Kingsbridge is the location of the property. What do you suggest?
Flying freeholds in Kingsbridge are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kingsbridge you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kingsbridge 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.
We are seeking to buy a repossessed flat in Kingsbridge and the mortgagee in possession require completion within a week. Can a complete in this timeframe? Would it be better to select a high street Kingsbridge firm or an online company that advertises to complete quickly?
Attend your Kingsbridge shopping parade. Go in to two or three solicitor’s offices and request to see a conveyancing solicitor for an estimate. Set out your needs and try and obtain a commitment on speed. Appoint the one that comes across as most genuine. Be sure to choose a on the panel of who can act for your bank.