I am not well enough to travel far from Castle Eden. Please clarify why all Castle Eden conveyancers aren't automatically on all lender panels?
As inequitable as it may appear for banks to restrict who can act for them, from the public’s or lawyer’s point of view, the the contrary view is that lenders are becoming ever more anxious and consider it necessary to shield themselves from illegal activities. As a consequence of this concern lenders are limiting their panel of approved conveyancing lawyers to a manageable size.
The Castle Eden conveyancing firm handling our Castle Eden conveyancing has discovered a discrepancy between the surveyor’s assumptions in the home valuation report and what is in the legal papers for the property. My lawyer informs me that he must check that the lender is happy with this discrepancy and is content to go ahead. Is my conveyancer’s course or action appropriate?
Your property 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.
The estate agent has sent us the confirmation of our purchase of a new build flat in Castle Eden. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Castle Eden
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
Over the last few months I have been searching for a flat up to £305k and identified one close by in Castle Eden I like with a park and railway links in the vicinity, however it only has 51 years unexpired on the lease. I can't really find anything else in Castle Eden for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan that many years will likely be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
Taking into account that I am about to part with £400,000 on a garden flat in Castle Eden I would like to talk to a solicitor about mytransaction before instructing the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you speaking to the solicitor due to be carrying out your conveyancing in Castle Eden.There is no ‘factory style conveyancing’ - every client is an important person, not a file reference. The practices that we put you in touch with believe that the figure you are quoted for residential conveyancing in Castle Eden should be the amount on the final invoice that you end up paying.
I need to swap lawyers as my Castle Eden lawyer is not on the bank's approved list of conveyancing solicitors. Is it practical to instruct different lawyers?
If you haven't yet instructed a solicitor to commence the conveyancing and at this stage simply received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Castle Eden that you're considering.