Our industry blog
Delays answering preliminary enquiries
Delays in answering preliminary enquiries One of the first jobs for the buyer’s solicitor is to submit a long list of questions to the seller’s solicitor. These are standard questions printed on a form and include availability of mains services;...
Don’t blame the surveyor! Delays with contracts and searches
Problems with contracts and delays with searches Minor disagreements over the precise details in draft contracts have an unfortunate tendency to escalate into full-blown disputes. Draft contracts are normally based on standard templates with standard...
Mortgage Linked Life Insurance and Medical Reports
My Mortgage Lender Wants Me To Take Out Life Insurance - Should I Be Worried? Lenders sometimes insist on you taking out life insurance cover as a condition of the mortgage. This may apply in cases where applicants are of a certain age or have an exciting...
Legal Problems – Unregistered Title
Unregistered Title and Delays Getting Title Deeds There are still some rare cases where the title, or ownership, of a property is still ‘unregistered’. This might be the case for example where the house in question has been in the same family for donkeys’...
Reasons Property Deals Fall Through: Legal Problems – Part One
Legal Problems - Delays Whether you're buying or selling property, the process always seems to be afflicted by inexplicably long delays. In earlier blogs we stressed the importance of selecting the right solicitor/conveyancer. This is because a good...
Reasons Property Deals Fall Through: Buildings Insurance Problems
What If You Can't Get Buildings Insurance? Surveyors doing mortgage valuation inspections are normally asked to comment in the lender’s report on any matters of concern, particularly where there could be implications for arranging buildings insurance. This can have...
Reasons Property Deals Fall Through: The Surveyor Finds Defects
Significant defects are spotted by your surveyor - will it cause the deal to fall through? Any major defects noted in your survey will need to be translated into hard cash. This means arranging builders’ quotes or obtaining specialist reports, typically for...
Why Mortgage Valuations Go Wrong
Common Problems With Mortgage Valuations Late mortgage valuation The valuation should normally be instructed within a couple of weeks of submitting your mortgage application, but can sometimes be delayed when employment or credit references are slow or...
Mortgage Lending Property Issues
Mortgage Lender Property Issues Lending criteria – the type of property In an earlier blog it was mentioned that some types of property are deemed unacceptable by mortgage lenders. This is usually only a problem in fairly rare cases where...
Disaster Scenario #4: MORTGAGE PROBLEMS
Mortgage problemsThe most commonly encountered problems for home buyers relate to mortgage funding. There are two main areas where problems can arise and seriously hamper a house purchase – those relating to personal credit or income references (see below) and those...