The Castle Vale conveyancing firm handling our Castle Vale conveyancing has uncovered a discrepancy when comparing the information in the home valuation report and what is revealed within the conveyancing documents. My solicitor has advised that he must check that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s course or action legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements 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.
Why do I have to pay up front when it comes to conveyancing in Castle Vale?
If you are buying a property in Castle Vale 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 deposit is payable against the total price then this should be asked for shortly in advance of contracts are exchanged. The final balance that is needed will be payable shortly before completion.
Should commercial conveyancing searches reveal proposed roadworks that could affect a commercial estate in Castle Vale?
Its becoming the norm that commercial conveyancing solicitors in Castle Vale will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Castle Vale. 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 Castle Vale.
For every commercial conveyancing transaction in Castle Vale it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to Castle Vale commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Castle Vale.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Castle Vale?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Castle Vale. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Castle Vale. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
Most houses in Castle Vale are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. We note that you are buying in Castle Vale so you should seriously consider shopping around for a Castle Vale conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.
Leasehold Conveyancing in Castle Vale - A selection of Queries before buying
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It is important to be aware if a new roof is being put on or some other major work is due in the near future to be shared between the leasehold owners and will materially increase the the maintenance charges or require a specific payment. It would be wise to find out as much as possible concerning the company managing the building as they can either make your life much easier or problematic. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to every day matters such as the upkeep of the common parts. Enquire of prospective neighbours what they think of their service. On a final note, find out the dates that you are obliged pay the maintenance charge to the appropriate party and specifically what you get for your money. Is anyone aware of any major works in the near future that will increase the service fees?
I'm buying a house in Castle Vale. I have found my conveyancer's company on the Law Society's list, but I can't find my conveyancer's name as listed on the regulator's website. Should I be concerned?
Not every individual in the law firm must be listed by the regulator. As long there is a manager qualified to 'oversee' the work, the actual day-to-day activity can be undertaken by unqualified staff.