Our Boncath conveyancer has discovered a difference between the surveyor’s assumptions in the home valuation report and what is in the conveyancing documents. My solicitor has advised that he must ensure that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s stance legitimate?
Your conveyancer 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 both parties.
How does conveyancing in Boncath differ for newly converted properties?
Most buyers of new build or newly converted property in Boncath come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Boncath tend to purchase the real estate, 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 conveyancing solicitors 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 Boncath or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Boncath before instructing conveyancers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some banks tend not grant a mortgage on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. If you contact us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Boncath. Conveyancing will be smoother if you use a solicitor in Boncath especially if they are acquainted with such properties in Boncath.
In what way can the Landlord & Tenant Act 1954 affect my business offices in Boncath and how can you help?
The 1954 Act gives protection to business tenants, granting the right to make a request to court for a continuation of occupancy at the end of the lease term. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Boncath is one of our numerous areas of the UK in which the firms we work with have offices
I have just appointed agents to market my ground floor apartment in Boncath. Conveyancing is yet to be initiated, however I have just received a half-yearly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as usual given that all rents and maintenance charges should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Boncath Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
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Make sure you find out if there are any onerous prohibitions in the lease. For instance it is very common in Boncath leases that pets are not allowed in certain buildings in Boncath. If you like the flatin Boncath however your cat is not allowed to live with you then you will be faced difficult determination. Its a good idea to find out as much as you can regarding the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to every day issues like the tidiness of the communal areas. You should not be shy to ask other tenants if they are happy with their management. On a final note, be sure you know the dates that you are obliged pay the service charge to the managing agents and precisely what it includes.
Should I cancel the direct debit for my mortgage with UBS once a completion date for my home sale in Boncath has been set?
No, you must continue meeting any mortgage payments to UBS until the mortgage is paid off on completion as part of your Boncath conveyancing.