The Brunswick Park conveyancing firm handling our Brunswick Park conveyancing has identified a discrepancy when comparing the surveyor’s assumptions in the home valuation survey and what is revealed within the legal papers for the property. My solicitor informs me that he is obliged to ensure that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s course or action right?
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.
Why do I have to pay up front when it comes to conveyancing in Brunswick Park?
If you are buying a property in Brunswick Park your solicitor will ask you to provide them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. When the down payment is payable against the purchase price then this should be required immediately prior to contracts are exchanged. The final balance that is needed will be payable shortly before completion.
My wife and I purchased a renovated Victorian property in Brunswick Park. Conveyancing lawyer acted for me and Norwich and Peterborough Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold under the exact same property. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register for 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 Brunswick Park and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing solicitor who carried out the work.
I am looking for a ground for flat up to £235,500 and identified one near me in Brunswick Park I like with amenity areas and railway links nearby, the downside is that it only has 52 years on the lease. There is not much else in Brunswick Park in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
How difficult is it to swap solicitor as I have to retain one who is on the Accord Mortgages Ltd conveyancing list. I was using a family conveyancing solicitor in Brunswick Park round the corner but she is not approved by Accord Mortgages Ltd
It would be our pleasure to assist you find a conveyancing solicitor in Brunswick Park on the Accord Mortgages Ltd panel. Please note that the property lawyers that we on the directory do not pay us fee if you instruct them and are fully regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Brunswick Park. In making use of search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Brunswick Park.
I have today placed an offer on a leasehold flat in Brunswick Park and the mortgage adviser that we are using suggested his property lawyer. She quoted £1000 excluding VAT and disbursements. Does this sound steep?
Don't just go on a single estimate. You should obtain like-for-like quotes for your conveyancing in Brunswick Park. Then pick one that you are comfortable with and just as important, is on the approved list of the lender that you have applied for a mortgage from.