The Lakenham conveyancing firm handling our Lakenham conveyancing has discovered an inconsistency when comparing the surveyor’s assumptions in the valuation survey and what is revealed within the conveyancing documents. My lawyer has advised that he must ensure that the bank is happy with this discrepancy and is still content to lend. Is my conveyancer’s approach right?
Your conveyancer 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.
What happens if my lawyer’s firm is removed from the Kent Reliance Conveyancing panel ahead of completing my conveyancing in Lakenham?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I was recommended by a couple of local selling agents in Lakenham to locate a property lawyer using your seach tool. What’s the financial inducement for Estate Agents to offer your services ahead of alternative conveyancing organisations?
We refuse to offer any referral fee for pointing buyers and sellers our way. We found it would be just too difficult a fee because a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I need to appoint a conveyancing solicitor for freehold conveyancing in Lakenham. I have stumble across a site which looks to be the ideal solution If there is a chance to get all this stuff done via phone that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am attracted to a couple of flats in Lakenham which have in the region of fifty years unexpired on the leases. should I be concerned?
There is no doubt about it. A leasehold apartment in Lakenham is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of purchasers and lenders, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Lakenham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Lakenham Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
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The prefered form of lease arrangement is a share of the freehold. In this arrangement the leaseholders benefit from being in charge if their destiny and although a managing agent is usually retained where it is bigger than a house conversion, the managing agent retained by the leaseholders. Who are the managing agents? How many of the leaseholders are in arrears for their maintenance charge payments?
What is the reason for new build conveyancing in Lakenham being more expensive?
Conveyancing in Lakenham for recently converted or new build premises can sometimes involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as further investigations and contractual concerns.