The Havant conveyancing firm handling our Havant conveyancing has identified an inconsistency between the surveyor’s assumptions in the valuation report and what is in the legal papers for the property. My lawyer has advised that he needs to check that the bank is OK with this discrepancy and is content to go ahead. Is my conveyancer’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.
How do I discover of the solicitor conducting my conveyancing in Havant is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Accord Mortgages Ltd thus spending £175.00 in further conveyancing charges.
Feel free to take advantage of the find a lender approved solicitor tool on this page. Pick the lender and type ‘Havant’ or your location and you will see numerous solicitors offices in Havant or near you.
We are purchasing a apartment in Havant. It might be a silly question but how we can trust a lawyer? At some point we will need to deposit money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Forgive me if this question is silly but I am unexperienced as a first time buyer of a two bedroom flat in Havant. Do I collect the keys to the premises on the completion date from my conveyancer? If this is the case, I will use a High Street conveyancing solicitor in Havant?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the seller's conveyancers, and shortly after the monies have arrived, you will be able to receive the keys from the selling Agents and start moving into the property. This tends to happen between 1 and 3pm.
A friend informed me that in purchasing a property in Havant there could be various restrictions prohibiting external changes to a property. Is this right?
There are anumerous of properties in Havant which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Havant should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am buying a new build house in Havant with a mortgage from Nottingham Building Society. The sellers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not to tell my solicitor about this deal as it will affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Due to the input of my in-laws I had a survey completed on a house in Havant prior to retaining solicitors. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some lenders will refuse to issue a loan on such a premises.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. Should you wish to telephone us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Havant. Conveyancing will be smoother if you use a solicitor in Havant especially if they are accustomed to such properties in Havant.
I am employed by a reputable estate agency in Havant where we have witnessed a number of leasehold sales jeopardised as a result of short leases. I have received inconsistent advice from local Havant conveyancing firms. Could you confirm whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Havant - A selection of Questions you should consider Prior to Purchasing
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You should be aware that where the lease has fewer than 80 years it will affect the salability of the apartment. It is worth checking with your bank that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely require a lease extension sooner rather than later and it is worth finding out what this would cost. Remember, in most cases you would need to own the residence for 24 months in order to be eligible to extend the lease. The prefered form of lease arrangement is a share of the freehold. In this arrangement the tenants enjoy control and although a managing agent is frequently retained where it is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Is there a share of the freehold?