The Axminster conveyancing firm handling our Axminster conveyancing has spotted an inconsistency between the assumptions in the home valuation survey and what is revealed within the conveyancing documents. My lawyer informs me that he is obliged to ensure that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s course or action right?
Your solicitor must comply with the UK Finance Lenders’ Handbook conditions 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.
I am purchasing my first flat in Axminster with a mortgage from Skipton Building Society. The builders refused to reduce the price so I negotiated £7000 of extras instead. The sale representative suggested that I not reveal to my solicitor about this extras as it would impact my mortgage with Skipton Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Axminster is where the house is located. Can you offer any guidance?
Flying freeholds in Axminster are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Axminster you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Axminster may decide 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 residence.
I'm remortgaging my current property to a buy to let mortgage with Norwich and Peterborough Building Society and intend to use the remaining equity as a down payment on another property. The location we are talking about is Axminster. Will your conveyancers be able to act for the two banks and tie in the conveyances?
Do use our search tool on this page to ensure that the solicitors are on the relevant lender panels. Having checked that they are the lawyer will be able to tie up the two conveyancing matters but you should have a chat with you solicitor and specify your expectations and needs.
In my capacity as executor for the will of my grandfather I am disposing of a residence in Monmouth but reside in Axminster. My lawyer (who is 260 miles from merequires that I sign a stat dec before completion. Could you suggest a conveyancing solicitor in Axminster who can witness this legal document for me?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are Axminster based
There are only 68 years remaining on my flat in Axminster. I now want to get lease extension but my freeholder is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have used your best endeavours to track down the lessor. In some cases a specialist would be helpful to carry out a search and to produce a report to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Axminster.
I inherited a 1 bedroom flat in Axminster, conveyancing was carried out 9 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Axminster with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ends on 21st October 2079
You have 53 years remaining on your lease we estimate the price of your lease extension to span between £27,600 and £31,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.