My Borough Green lawyer has discovered an inconsistency between the information in the home valuation survey and what is in the legal papers for the property. My lawyer says that he is obliged to check that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s approach correct?
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.
My brother-in-law has suggested I instruct a conveyancing solicitor in Borough Green. I I am struggling to find out whether they are accepted on the Platform Home Loans Ltd approved list of lawyers. Can you or the lender confirm if they are on the panel?
The first thing to do is e-mail the conveyancer and enquire whether they can act for the bank. Otherwise you should get in touch with Platform Home Loans Ltd who may be able to assist.
Me and my partner are purchasing a apartment in Borough Green. I might seem paranoid but how we can trust a lawyer? On completion day we have to deposit our life savings into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
What is the difference between a licensed conveyancer and conveyancing solicitor in Borough Green
There are many registered licenced Conveyancers in Borough Green and Solicitor partnerships in Borough Green who can assist with your conveyancing We would stress that both are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. Both can deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Can you point me to a directory of Lloyds panel conveyancers in Borough Green on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association websites. A small selection of banks make their panel listings visible online. Where you are seeking to appoint a Borough Green conveyancing practitioner on the Lloyds please use our facility.
I'm buying my first flat in Borough Green with a loan from Bank of Ireland. The sellers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The property agent advised me not to tell my lawyer about this extras as it would affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I have been recommended by numerous estate agents in Borough Green to locate a conveyancer using your seach tool. Is there a financial inducement for Estate Agents to market your site over and above a competitor’s?
We don’t offer any financial incentive for sending work in our direction. We found it would be just too difficult a fee because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
Can you provide any top tips for leasehold conveyancing in Borough Green from the perspective of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Borough Green can be bypassed if you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ lawyers. If you have had any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing. In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Borough Green leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Where you fail to have the paperwork to hand do not communicate with the landlord without contacting your conveyancer in advance. The majority of landlords or Management Companies in Borough Green charge for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Borough Green.
Borough Green Leasehold Conveyancing - Examples of Queries Prior to buying
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Most Borough Green leasehold properties will be liable to pay a service bill for the upkeep of the block levied by the landlord. If you purchase the flat you will have to meet this contribution, usually quarterly accross the year. This can vary from several hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a ground rent for you to pay annual, normally this is not a exorbitant sum, say about £25-£75 but you need to check it because sometimes it can be surprisingly expensive. This information is useful as a) areas could cause problems for the block as the common areas may begin to deteriorate where maintenance are not paid for b) if the leasehold owners have a dispute with the managing agents you will wish to have all the details Please tell me if there are any major works in the planning that will add a premium to the service costs?