My Desford lawyer has discovered an inconsistency when comparing the surveyor’s assumptions in the valuation report and what is in the title deeds. My lawyer has advised that he is obliged to check that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’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.
We are buying a property and require a conveyancing solicitor in Desford who is on the Coventry BS solicitor panel. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Coventry BS . We don't recommend any particular firms conducting conveyancing in Desford.
I am helping my sister sell her house in Desford. Will the solicitor commission the energy performance certificate or do I organise this?
After the demise of HIPs, energy assessments became a required component of selling a house. An energy assessment should be commissioned prior to the property being marketed. This is not as aspect of the sale process that solicitors normally organise. If you are using a Desford conveyancing solicitor they might be willing to arrange energy assessments due to their contacts with long established Desford energy assessors
I just acquired a flat at auction in Desford. Conveyancing is required. What is next?
Given that you have now legally bound yourself to purchase you should find a conveyancing solicitor soon as you are facing a pending a fixed date to complete the transaction. All auction property will ordinarily have a bespoke legal pack. This should include most,if not all of the documents that your solicitor will need. If you have purchased leasehold property the conveyancing pack may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You should hand this to the conveyancer working for you ASAP. You also need to ensure that your finances are organised to complete the transaction on the set completion date.
I can not fathom if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Desford building society branch on a couple of occasions and was told it does not affect the mortgage offer and they will lend. My Desford conveyancing solicitor - who is on the lender conveyancing panel- called to say that they will not lend based on their published requirements. I simply don't know who is right.
Your property lawyer must follow the CML Handbook Part 2 requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I'm buying a new build house in Desford with the aid of help to buy. The developers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not disclose to my conveyancer about this deal as it may jeopardize my loan with the bank. Should I keep quiet?.
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.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one round the corner in Desford I like with amenity areas and railway links in the vicinity, however it's only got 51 years on the lease. I can't really find anything else in Desford suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan that many years may be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
Fiveweeks into a sale of a flat in Desford. Conveyancing is fine but we have been asked to pay a fortune by the freeholder. To date we have forked out £250 for a leasehold management information and then a further £134.40 for responses to questions supplied by the buyers solicitor.
Neither you or your lawyer will have any impact over the level of the bill for this information however the typical fee for the information for Desford leasehold premises is £360. For Desford conveyancing deals it is conventional for the seller to cover the charges. The freeholder or their agents are not duty bound to answer these questions although many will agree to do so - albeit often at high prices where the fees bear little relation to the work involved. Regretfully there is no legislation that mandates fixed charges for administrative tasks. Nor is there any legal time limit by which they are obliged to issue the information.