The Hockley Heath conveyancing firm handling our Hockley Heath conveyancing has uncovered a difference between the surveyor’s assumptions in the valuation report and what is in the title deeds. My lawyer has advised that he needs to check that the lender is OK with this discrepancy and is content to go ahead. Is my lawyer’s course or action legitimate?
Your solicitor 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 you.
This question may be naive but I am wet behind the ears as a first time buyer of a ground floor flat in Hockley Heath. Do I receive the keys to the premises on completion from my lawyer? If this is the case, I will instruct a High Street conveyancing solicitor in Hockley Heath?
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 once they have received this, you will be invited to collect the keys from the selling Agents and move into your new home. This tends to happen early afternoon.
I have today made my last payment due on my mortgage with Yorkshire BS. I assume I don't need a Hockley Heath property lawyer on the Yorkshire BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Hockley Heath. I have a mortgage offer with Nationwide. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Hockley Heath is the location of the property. Can you offer any opinion?
Flying freeholds in Hockley Heath are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hockley Heath you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hockley Heath may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My husband and I are first time buyers - had an offer accepted, yet the estate agent advised that the seller will only go ahead if we use the agent's chosen solicitors as they want a ‘quick sale’. My instinct tells me that we should use a local conveyancer who is accustomed to conveyancing in Hockley Heath
It is highly unlikely the vendors are behind this. Should the vendor require ‘a quick sale', taking such a hostile approach to a serious purchaser is counter productive. Avoid the agents and go straight to the owners and explain that (a)you are genuine buyers (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you wish to move quickly (e)but you are going to appoint your preferred Hockley Heath conveyancing firm - rather thanthose that will earn their negotiator at the agency a referral fee or meet his conveyancing targets set by senior management.
I today plan to offer on a house that seems to be perfect, at a great figure which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Hockley Heath. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Hockley Heath ?
Most houses in Hockley Heath are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Hockley Heath so you should seriously consider shopping around for a Hockley Heath conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer should advise you fully on all the issues.
I am the registered owner of a basement flat in Hockley Heath, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Hockley Heath with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ends on 21st October 2089
With 63 years unexpired we estimate the price of your lease extension to range between £16,200 and £18,600 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
Our conveyancer in Hockley Heath has informed me that he requires identification documents stating that this forms part of his legal duty as a conveyancer on the mortgage company Solicitor panel. This is news to me - can I refuse?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the lender. This is not specific to conveyancing in Hockley Heath