Our Benson solicitor has identified a difference when comparing the surveyor’s assumptions in the home valuation survey and what is revealed within the legal papers for the property. My solicitor has advised that he is duty bound to check that the bank is OK with this discrepancy and is content to go ahead. Is my conveyancer’s stance right?
Your lawyer must comply with the UK Finance Lenders’ Handbook specifications 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.
We wanted to use a property lawyer in Benson for our house move. Our financial adviser informed us that our bank Chelsea Building Society won't deal with them. Surely this is unduly restrictive?
Lenders on the whole restrict either the category or the volume of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a law practice must have two or more partners. As well as restricting the type of firm, some have decided to limit the amount of solicitor practices they use to represent them. You should note that Chelsea Building Society have no responsibility for the quality of advice provided by any member of Chelsea Building Society Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of conveyancing panels a few years ago even though there are differing views regarding the level of solicitor engagement in some of that fraud. Figures from the Land Registry reveal that plenty of law firms, including some in or near Benson only carry out a couple conveyances a year.
It has been four months since my purchase conveyancing in Benson completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. 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 residence 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.
Due to the input of my in-laws I had a survey completed on a property in Benson prior to instructing conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some lenders tend refuse to grant a loan on a flying freehold property.
It varies from the lender to lender. Lloyds has different instructions from Nationwide. Should you wish to call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Benson. Conveyancing will be smoother if you use a solicitor in Benson especially if they are familiar with such properties in Benson.
I need to appoint a conveyancing solicitor for freehold conveyancing in Benson. I happened to chance upon a site which seems to have the ideal answer If there is a chance to get all formalities completed via web that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I've found a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Benson. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
Most houses in Benson are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Benson in which case you should be shopping around for a Benson conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor will report to you on the legal implications.