My Drakes Cross lawyer has spotted an inconsistency when comparing the assumptions in the valuation report and what is revealed within the title deeds. My lawyer has advised that he is obliged to check that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s stance right?
Your conveyancing practitioner 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 both parties.
We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Does this mean I have to appoint their panel lawyer as I would much rather appoint a Drakes Cross based conveyancing firm?
You should check but the the probability is that allocate you one of their panel conveyancers if you accept the "fee-free" deal. Contact the bank and determine if they offer you a cash alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Drakes Cross.
Do commercial conveyancing searches reveal planned roadworks that may affect a commercial property in Drakes Cross?
Its becoming the norm that commercial conveyancing solicitors in Drakes Cross will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Drakes Cross. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Drakes Cross.
For each commercial conveyancing transaction in Drakes Cross it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may result in delays to Drakes Cross commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Drakes Cross.
I'm buying my first flat in Drakes Cross with the aid of help to buy. The sellers refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not disclose to my lawyer about the side-deal as it could impact my loan with Bank of Ireland. 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.
I have just started marketing my basement apartment in Drakes Cross. Conveyancing solicitors are to be appointed soon, but I have recently had a yearly service charge invoice – Do I pay up?
It best that you pay the service charge as you normally would because all ground rent and service charges will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Drakes Cross Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing
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You should be aware if it is no more than eighty years it will affect the value of the flat. Check with your bank that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth discovering how much this would cost. For most Drakes Crosslease extensions you will be required to have owned the property for 24 months before you are entitled to extend the lease. The answer will be important as a) areas can result in problems for the building as the communal areas may start to deteriorate if maintenance remain unpaid b) if the leasehold owners have an issue with the managing agents you will wish to know about it
What can I do to discover who owns a property in Drakes Cross?
On the basis that the property is recorded at HM Land Registry, and you have the specifics of the address of the property, you should be able to view results from the HM Land Registry of the recorded proprietor for a for less than a fiver.