The Braunstone conveyancing firm handling our Braunstone conveyancing has spotted a discrepancy when comparing the assumptions in the home valuation survey and what is in the legal papers for the property. My solicitor has advised that he is duty bound to check that the lender is happy with this discrepancy and is content to go ahead. Is my lawyer’s approach correct?
Your lawyer 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.
Forgive me if this question is silly but I am unexperienced as a first time purchaser of a garden flat in Braunstone. Do I pick up the keys to the property on completion from my lawyer? If this is the case, I will find a High Street conveyancing solicitor in Braunstone?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the purchase money to the owner’s solicitors, and shortly after the monies have arrived, you should be able to receive the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.
I had a mortgage agreed in principle with Lloyds. Braunstone conveyancing lawyers have been instructed. How long does it take for Lloyds to forward the offer to the solicitor?
Some lenders take longer than others. Have Lloyds done the survey? Have you advised Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Intending to buy a flat in Braunstone. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Braunstone property lawyer is on the Kent Reliance conveyancing panel.
Various web forums that I have frequented warn that are a common cause of delay in Braunstone house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Braunstone.
My wife and I purchased a 4 bedroom Georgian property in Braunstone. Conveyancing practitioner acted for me and Bank of Ireland. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold with the exact same property. Is it worth asking Bank of Ireland to clarify?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Braunstone and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing practitioner who conducted the work.
I have been on the look out for a ground for flat up to £305k and found one near me in Braunstone I like with open areas and transport links in the vicinity, the downside is that it's only got 51 years on the lease. I can't really find anything else in Braunstone suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan the remaining unexpired lease term may be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
My aim is to acquire a ground floor apartment in Braunstone. Conveyancing solicitor is waiting for, from the owner, building insurance documents. This afternoon I was informed that the seller needs to send the insurance paperwork for the flat above also. Why does my property lawyer want to check the insurance for the other flat? Is it strictly required? We have been stalled for the last month…
It is not impossible in leasehold conveyancing in Braunstone to find Conveyancing in Braunstone in a minority of cases reveals that the lease obliges the leasehold owners to insure their individual flats as opposed to the landlord insuring the entire premises - which is definitely better. Do double check with your property lawyer but it would seem that your solicitor is looking to verify that the whole building is insured. Insuring a ground floor flat is no help when it comes to rebuilding after a fire if the 1st floor cannot be reinstated for lack of insurance cover.