My Chobham solicitor has spotted a difference between the information in the valuation report and what is revealed within the title deeds. My lawyer says that he needs to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach right?
Your lawyer must comply with the UK Finance Lenders’ Handbook conditions 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.
I have been advised by my lawyer that chancel insurance is needed on my purchase. What is the level of cover for Chobham conveyancing?
The right level of chancel indemnity insurance should be dictated by who who your lender is. It would differ for example between HSBC Bank and Chelsea Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
Last month we had a mortgage agreed in principle with TSB. Chobham conveyancing solicitors are chosen. How long does it take for TSB to send the offer to the solicitor?
Some lenders take longer than others. Have TSB conducted the survey? Have you informed TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I was told three weeks ago that my mortgage has been agreed to by Clydesdale. Is it usual for Clydesdale to only issue the offer once my solicitor in Chobham is approved on their conveyancing panel? Clydesdale have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Clydesdale to deal with your lawyer's application to be on the Clydesdale conveyancing panel. There's no guarantee that your solicitor will be accepted.
I used Arc property Solicitors a few years past for my conveyancing in Chobham. I now require my file however cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Chobham of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying a new build apartment in Chobham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Chobham
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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. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I opted to have a survey done on a house in Chobham before retaining lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies will refuse to issue a mortgage on such a home.
It depends who your proposed lender is. Lloyds has different requirements for example to Nationwide. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Chobham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Chobham to see if the conveyancing costs will increase in light of this.
Do you have any advice for leasehold conveyancing in Chobham from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Chobham can be avoided where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers’ lawyers. In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Chobham state that internal structural alterations or installing wooden flooring require a licence from the Landlord consenting to such works. If you dont have the paperwork in place do not communicate with the landlord without checking with your conveyancer in advance. You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your solicitors. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. Many freeholders or managing agents in Chobham charge for supplying management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Chobham. If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Arranging a re-issued share certificate can be a lengthy formality and frustrates many a Chobham conveyancing transaction. Where a duplicate share is required, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.
Chobham Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
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How many years are left on the lease? If a Chobham lease has fewer than eighty years it will affect the value of the flat. It is worth checking with your lender that they are happy with remaining years on the lease. A short lease means that you will most likely have to extend the lease sooner rather than later and it is worth finding out how much this would cost. Remember, in most cases you would need to own the property for two years before you are eligible to extend the lease.