My Earley lawyer has spotted an inconsistency when comparing the assumptions in the valuation survey and what is revealed within the legal papers for the property. My lawyer informs me that he is obliged to ensure that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s approach correct?
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 both parties.
The Earley conveyancing lawyers that just started acting on my purchase in Earley have without warning shut down. They were on acting for me because I had to have a firm on the RBS conveyancing panel and my preferred Earley lawyer was not. I paid them £170 in advance. What should be my next steps?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the RBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
Should commercial conveyancing searches reveal planned roadworks that could affect a commercial site in Earley?
Its becoming the norm that commercial conveyancing solicitors in Earley will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Earley. The search result provides definitive information 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 Earley.
For every commercial conveyancing transaction in Earley it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could cause delays to Earley commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Earley.
I opted to have a survey carried out on a property in Earley in advance of instructing conveyancers. I have been informed that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies may refuse to grant a mortgage on a flying freehold premises.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. Should you wish to call us we can look into this further 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 Earley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Earley to see if the conveyancing costs will increase in light of this.
In what way does the Landlord & Tenant Act 1954 impact my business property in Earley and how can your lawyers assist?
The 1954 Act gives protection to business leaseholders, granting the right to apply to court for a renewal tenancy and continue in occupation at the end of the lease term. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Earley is one of the hundreds of areas of the UK in which the firms we work with are based
I am 18 days into a leasehold purchase having been directed to a firm by the local agent to carry out the conveyancing in Earley. I am am extremely disappointed with the quality of service. Could you help me find new conveyancers?
A conveyancer would have to be really poor in order to consider replacing them. Has the mortgage offer been issued? In the event that it has you will need to inform them of the new solicitor and get the mortgage documents are re-issued. Your conveyancer should be on the banks approved list to avoid escalating costs and delays. So that should be your first question of the new lawyers. The search tool should help you find a lender approved solicitor for your conveyancing in Earley