The Lichfield conveyancing firm handling our Lichfield conveyancing has uncovered an inconsistency when comparing the information in the valuation survey and what is in the legal papers for the property. My lawyer has advised that he is obliged to ensure that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s approach legitimate?
Your conveyancer 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 both parties.
Do I need to visit the offices of the solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Lichfield so that I can pop in to their offices if necessary.
As opposed to 12 years ago, the vast majority banks no longer need their conveyancing panel lawyer to witness the borrowers signature. It will still be necessary for you to supply ID documents and there are still manifest benefits to using a local solicitor, in your situation a conveyancing solicitor in Lichfield.
My father informed me that in purchasing a property in Lichfield there may be a number of restrictions as to what one can do in terms of external changes to the property. Is this right?
We are aware of anumerous of properties in Lichfield which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Lichfield should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am due to move home in March. Does my conveyancing solicitor update the removal company on the completion day. On a separate note, can you suggest a removal company in Lichfield. Conveyancing firm was found prior to coming across your page.
On the afternoon of completion you will need to collect the keys from the selling agent however this can only happen once the sellers lawyers inform the agent that they have the completion monies and the keys can be handed over. Subsequently you can tell the removal company that you are ready to move in. We do not suggest a specific removal company but can help you find a residential property solicitor in Lichfield or a firm with expertise in conveyancing in Lichfield.
Does a directory service exist listing UBS panel solicitors in Lichfield on the Council of Mortgage Lender’s Website?
No. There is no such tool on the CML or Building Society Association sites. A small selection of banks make their panel listings open the public online. Where you are looking for a Lichfield property lawyer on the UBS please use our tool.
three months have elapsed since my purchase conveyancing in Lichfield took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Lichfield differ for new build properties?
Most buyers of new build premises in Lichfield contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because developers in Lichfield tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Lichfield or who has acted in the same development.
Do you have any top tips for leasehold conveyancing in Lichfield from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Lichfield can be avoided where you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers. If you are supposed to have a share in the Management Company, you should ensure that you have the original share document. Obtaining a new share certificate can be a time consuming process and delays many a Lichfield home move. If a new share is required, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible. If you have had conflict with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unresolved. In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Lichfield state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such works. Should you fail to have the paperwork in place do not communicate with the landlord without checking with your lawyer in the first instance.
I am the registered owner of a 1 bedroom flat in Lichfield, conveyancing formalities finalised in 2007. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Lichfield with an extended lease are worth £186,000. The ground rent is £55 charged once a year. The lease terminates on 21st October 2078
With 52 years unexpired we estimate the price of your lease extension to be between £29,500 and £34,000 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.