Our Beddau conveyancer has identified a difference between the information in the home valuation report and what is revealed within the title deeds. My solicitor says that he is obliged to ensure that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s approach appropriate?
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 have a decision in principle. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to appoint their panel solicitor as I would prefer to use a specialised conveyancing solicitor in Beddau?
You should check but the chances are that give you one of their panel lawyers where you take up the "fee-free" deal. Contact the mortgage company to check if they offer you a monetary alternative. Some lenders have previously offered a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor in Beddau.
I am helping my step-mother sell her property in Beddau. Does the conveyancing solicitor commission an energy assessment or should I organise this?
Following the abolition of HIPs, EPC’s was maintained a mandatory part of selling a house. An energy performance certificate must be commissioned in advance of the property being placed on the market. It is not something that conveyancers normally organise. Where you are instructing a Beddau conveyancing practitioner they may help arrange energy performance certificates given their contacts with reputable local energy assessors
A friend advised me that in purchasing a property in Beddau there could be a number of restrictions preventing external changes to the property. Is this right?
We are aware of a number of properties in Beddau which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Beddau should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to mortgage companies such as Coventry BS, do Beddau conveyancers have to pay a fee to be on the conveyancing panel?
We are unaware of any lender fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
It has been four months since my purchase conveyancing in Beddau completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Beddau differ for newly converted properties?
Most buyers of new build property in Beddau contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because developers in Beddau typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Beddau or who has acted in the same development.
Having checked my lease I have discovered that there are only Sixty One years left on my flat in Beddau. I now want to get lease extension but my freeholder is missing. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the lessor. For most situations an enquiry agent should be useful to carry out a search and to produce an expert document to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Beddau.
I inherited a split level flat in Beddau, conveyancing was carried out in 2007. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Beddau with an extended lease are worth £191,000. The ground rent is £55 levied per year. The lease finishes on 21st October 2078
With 53 years unexpired we estimate the price of your lease extension to span between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.