The Gants Hill conveyancing firm handling our Gants Hill conveyancing has identified a discrepancy between the surveyor’s assumptions in the home valuation report and what is revealed within the legal papers for the property. My solicitor has advised that he needs to ensure that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s stance appropriate?
Your lawyer 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 planning to acquire a house and need a conveyancing solicitor in Gants Hill who is on the UBS solicitor panel. Can you recommend a local 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 UBS . We don't recommend any particular firms conducting conveyancing in Gants Hill.
Are all Gants Hill Conveyancing Quality Solicitors on the Co-operative conveyancing list of approved practices?
It is true that some banks and building societies now use the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of firms.
Is it the case that all Gants Hill solicitor firms on the Leeds Building Society conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Leeds Building Society approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. The majority of mortgage companies do list licenced conveyancers on their panel and in such a situation the firms would be governed by the CLC.
Principality have agreed my home loan in principle, my offer on a property in Gants Hill has been agreed to, now what?
The estate agent will want to be informed of your lawyer's details (make sure the solicitors are on the bank’s approved list). Call up Principality or the financial adviser and complete any outstanding documentation. Principality will appoint a valuer who will get in touch with the selling agent or owners to book a slot for the valuation to happen. Once conducted (assuming no problems) it takes on average a week for the mortgage offer to be issued. Principality will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Gants Hill.
A friend recommended that where I am buying in Gants Hill I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Gants Hill conveyancing searches. It is not a small document of about 40 pages, listing and setting out significant information about Gants Hill around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data regarding Gants Hill.
I am purchasing a new build house in Gants Hill benefiting from help to buy. The developers would not reduce the price so I negotiated 6k of extras instead. The property agent advised me not reveal to my conveyancer about the extras as it would jeopardize my mortgage with the lender. Do I keep my lawyer in the dark?.
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 am attracted to a couple of flats in Gants Hill which have about 50 years remaining on the leases. should I be concerned?
A lease is a right to use the property for a period of time. As the lease gets shorter the value of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this area.
My wife and I have hit a brick wall in negotiating a lease extension in Gants Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We are happy to put you in touch with a Gants Hill conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Gants Hill premises is 59 & 59a Clarendon Gardens in February 2014. The Tribunals valuation for the freehold was £30,073.00 The unexpired lease term was 65 and 61.