The Chatham conveyancing firm handling our Chatham conveyancing has uncovered a difference when comparing the surveyor’s assumptions in the home valuation report and what is in the title deeds. My solicitor informs me that he is obliged to ensure that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions 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.
I am thinking of mortgaging my house in Chatham, does my lawyer need to be on the Leeds Building Society Solicitor panel?
There is nothing to stop you using your solicitor, but Leeds Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
My wife and I purchasing a 4 bedroom semi-detached house in Chatham. The intention is to carry out an extension to the side at the property.Will legal due diligence on the property involve investigations to see if these alterations were previously refused?
Your property lawyer should review the deeds as conveyancing in Chatham will sometimes identify restrictions in the title deeds which prohibit certain works or require the permission of a 3rd party. Some works call for local authority planning consent and approval in accordance building regulations. Certain locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be prudent to check these issues with a surveyor before you commit yourself to a purchase.
We expect to receive a AIP from Nottingham this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nottingham recommend any Chatham solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Chatham solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
My wife and I are at the point of looking at flats in Chatham and I am now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a mortgage with Coventry BS.
It would be sensible to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. As you are obtaining a mortgage with Coventry BS, make sure you remember to check that your lawyer is on the Coventry BS conveyancing panel.
I have todaydiscovered that Action Conveyancing have been shut down. They carried out my conveyancing in Chatham for a purchase of a leasehold flat 9 months ago. How can I check that the property is in my name in the name of the previous owner?
The easiest way to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Chatham conveyancing specialists.
I am buying a new build house in Chatham with a mortgage from Nationwide Building Society. The builders would not move on the price so I negotiated five thousand pounds worth of additionals instead. The estate agent told me not reveal to my solicitor about this deal as it will jeopardize my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a flat up to £195,000 and identified one round the corner in Chatham I like with open areas and station nearby, however it's only got 49 remaining years left on the lease. There is not much else in Chatham for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan that many years may be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.