Our Bow Street conveyancer has spotted a discrepancy between the assumptions in the valuation survey and what is in the conveyancing documents. My lawyer informs me that he must check that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s course or action right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions 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. Does this mean I have to appoint their panel lawyer as I would prefer to use a local conveyancing solicitor in Bow Street?
You should check but the the likelihood is that give you one of their panel solicitors if you accept the "fee-free" offer. Call the mortgage company and check if they make available a monetary alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in Bow Street.
Should commercial conveyancing searches disclose proposed roadworks that may affect a commercial premises in Bow Street?
Its becoming the norm that commercial conveyancing solicitors in Bow Street will perform a SiteSolutions Highways report as it reduces the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Bow Street. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Bow Street.
For every commercial conveyancing transaction in Bow Street it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could result in delays to Bow Street commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Bow Street.
I used Action Conveyancing a few years ago for my conveyancing in Bow Street. Now, I need my documents but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Bow Street of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Bow Street differ for newly converted properties?
Most buyers of new build or newly converted property in Bow Street contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is completed. This is because house builders in Bow Street tend to 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 Bow Street or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Bow Street is the location of the property. Can you offer any guidance?
Flying freeholds in Bow Street are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bow Street you must be sure that your lawyer goes 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 Bow Street 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 premises.