My Cringleford conveyancer has spotted a discrepancy when comparing the surveyor’s assumptions in the home valuation survey and what is revealed within the legal papers for the property. My lawyer has advised that he is obliged to ensure that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s approach right?
Your solicitor 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 you.
Is there a search tool that I can utilise to find out if the solicitor conducting my conveyancing in Cringleford is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Birmingham Midshires thus spending £192.00 in another set of legal charges.
Please do take advantage of the find a lender approved solicitor tool on this page. Please choose the lender and type ‘Cringleford’ or your location and you will discover a number of lawyer based in Cringleford or nearest you.
I opted to have a survey carried out on a house in Cringleford in advance of appointing conveyancers. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies may not issue a loan on such a home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cringleford. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been advised by two or three local property agents in Cringleford to choose a property lawyer on your site. What’s the financial upside for Estate Agents to promote your lawyers rather than alternative conveyancing organisations?
We refuse to make any financial incentive for sending work in our direction. We thought it would be too underhand to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
Should I choose a Cringleford conveyancing practitioner who is local to the property I am buying? I have an old university friend who can deal with the legal formalities however his firm is located 200kilometers away.
The primary upside of using a local Cringleford conveyancing practice is that you can drop in to sign documents, deliver your ID and apply pressure on them where appropriate. Having local Cringleford know how is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and the majority were content that must outweigh using an unfamiliar Cringleford conveyancing lawyer just because they are round the corner.
I own a leasehold flat in Cringleford. Conveyancing and National Westminster Bank mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Cringleford who acted for me is not around. Do I pay?
First contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Cringleford conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Leasehold Conveyancing in Cringleford - A selection of Questions you should consider Prior to Purchasing
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Who is in charge of the building? Many Cringleford leasehold flats will be liable to pay a service charge for the upkeep of the block invoiced by the management company. If you purchase the property you will have to pay this amount, usually in instalments during the year. This may differ from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. In all likelihood there will be a ground rent for you to pay annual, ordinarily this is not a large sum, say around £25-£75 but you need to check as occasionally it could be prohibitively expensive. Please tell me if there are any major works on the horizon that could increase the service costs?