The Chard conveyancing firm handling our Chard conveyancing has spotted an inconsistency when comparing the surveyor’s assumptions in the home valuation survey and what is revealed within the legal papers for the property. My lawyer informs me that he needs to check that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s approach correct?
Your solicitor 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.
The deeds to our home can not be found. The lawyers who dealt with the conveyancing in Chard 10 years ago are no longer around. What do I do?
Assuming you have a registered title the details of your proprietorship will be recorded by the Land Registry with a Title Number. It is possible to carry out a search at the Land Registry, identify your house and obtain current copies of the Registered Entries for less than a fiver. Where the title is Leasehold then the Land Registry will usually hold a certified duplicate of the Registered Lease and again, a copy can be retrieved for a small fee.
I have been on the look out for a leasehold apartment up to £245,000 and found one round the corner in Chard I like with a park and transport links in the vicinity, however it's only got 61 years on the lease. There is not much else in Chard suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan that many years will likely be a potential deal breaker. 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 at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
My brother has recommend that I appoint his conveyancing solicitors in Chard. Should I find my own solicitor?
Much as we are happy to recommend a Chard conveyancing lawyer the ideal way to find a conveyancing solicitor is to get guidance from friends or family who have experience in using the firm you're contemplating using.
Can you offer any advice when it comes to finding a Chard conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Chard conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you speak with several firms including non Chard conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be of use:
-
What are the legal fees for lease extension conveyancing? How familiar is the practice with lease extension legislation?
Chard Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
-
What is the name of the managing agents? How much is the ground rent and service charge? How is the lease structured?
After what seems like an age I have had an offer on an flat in Chard accepted, the vendor does nevertheless have a connected purchase. The vendors have offered on a flat, although it’s not yet agreed to, and are looking at other apartments booked. I have chosen a local conveyancing solicitor in Chard. What do I do now? At what stage do I apply for the mortgage with Barclays?
It is usual to have anxieties where there is a chain given your reluctance to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then valuation, Chard conveyancing search costs, etc). The first course of action is to check that your conveyancing practitioner is on the Barclays conveyancing panel. Concerning the subsequent steps this very much depends on the circumstances of your transaction, desire for the property and on the state of the market. During a buoyant market some buyers will apply for a home loan with Barclays and pay for the valuation and only if it comes back ok would they request their conveyancer to move forward with the conveyancing in Chard.