Our Fakenham solicitor has identified a discrepancy when comparing the surveyor’s assumptions in the home valuation report and what is revealed within the title deeds. My solicitor says that he needs to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s stance correct?
Your lawyer must comply with the UK Finance Lenders’ Handbook specifications 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.
My grandfather passed away last year and as sole heir and executor I was left the property in Fakenham. The house had a small mortgage left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to TSB, pay off the mortgage. Is this allowed?
Given you plan to refinance then TSB will require that you use a conveyancer on the TSB conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your TSB conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the TSB mortgage is registered as a charge at the Land Registry.
Just had an offer accepted on a new build flat in Fakenham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Fakenham
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Please confirm the Lease plans are architect prepared. Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I opted to have a survey done on a property in Fakenham before retaining conveyancers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some banks tend not grant a mortgage on such a premises.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. If you contact us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Fakenham. Conveyancing will be smoother if you use a solicitor in Fakenham especially if they regularly deal with such properties in Fakenham.
Taking into account that I will soon part with 450k on a house in Fakenham I would like to talk to a solicitor regarding thehouse move before giving the go ahead to the firm. Can this be arranged?
Absolutely - it is our preference to talk to you we do not take any clients on without you liaising with the solicitor due to be carrying out your conveyancing in Fakenham.There is no ‘factory style conveyancing’ - each client is unique individual, not a case number. The law firms that we put you in touch with believe that the figure you are provided with for residential conveyancing in Fakenham should be the amount on the final invoice that you are charged.
Should I stop the direct debit for my mortgage with HSBC once a completion date for my sale in Fakenham has been agreed?
You would be well advised to keep meeting any mortgage payments to HSBC pending the mortgage being paid off on completion as part of your Fakenham conveyancing.