My Long Stratton lawyer has uncovered a difference between the information in the home valuation survey and what is in the conveyancing documents. My solicitor has advised that he is duty bound to ensure that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s approach appropriate?
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 both parties.
My wife and I are in the process of looking at flats in Long Stratton and I am now considering a potential offer. Is it advisable to have my solicitor on ‘stand by’? I intend to finance via a home loan with HSBC.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. Given that you are getting a mortgage with HSBC, ask your prospective lawyers if they are on the HSBC conveyancing panel otherwise they can't do the mortgage legal work.
I have paid off my mortgage with TSB. I assume I don't need a Long Stratton solicitor on the TSB panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your TSB 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 TSB mortgage from the register. TSB, 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 TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
RBS have agreed my mortgage in principle, my bid on a property in Long Stratton has been accepted, now what?
The estate agent will want to be advised as to your lawyer's details (be sure the solicitors are on the lender’s approved list). Call up RBS or the financial adviser and finalise any outstanding documentation. RBS will appoint a valuer who will get in contact with the selling agent or vendor to arrange a slot for the valuation to take place. Once carried out (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. RBS will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Long Stratton.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a simple, chain free conveyancing. Long Stratton is the location of the property. Can you shed any light on this issue?
Flying freeholds in Long Stratton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Long Stratton you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Long Stratton may determine 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 residence.
Is it possible to change solicitor as I need to appoint one who is on the Nottingham Building Society conveyancing list. I had appointed a local conveyancing solicitor in Long Stratton five minutes from me but he is not approved by Nottingham Building Society
It would be our pleasure to help you select a conveyancing solicitor in Long Stratton on the Nottingham Building Society panel. Please note that the conveyancers that we list do not pay us a referral fee if you instruct them and are registered with the Solicitors Regulation Authority who oversee all conveyancing solicitors in Long Stratton. Using search facility on this website, you can contrast fees for conveyancing solicitors in Long Stratton and beyond.
I am intending to rent out my leasehold flat in Long Stratton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Your lease dictates relations between the freeholder and you the leaseholder; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Long Stratton do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
Leasehold Conveyancing in Long Stratton - Examples of Questions you should consider Prior to buying
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What is the yearly maintenance fee and ground rent? If a Long Stratton lease has no more than 80 years it will affect the salability of the apartment. Check with your bank that they are willing to lend given the lease term. A short lease means that you will probably need a lease extension sooner rather than later and you need to have some idea of how much this will be. For most Long Strattonlease extensions you would need to own the property for 24 months in order to be entitled to extend the lease. Best to be warned if fixing the lift or some other significant cost is coming up to be shared between the tenants and may well dramatically impact the level of the maintenance charges or result in a specific payment.
Been reading online that Long Stratton solicitors are more expensive than licensed conveyancers in Long Stratton to use when buying a property. Am I better off using a conveyancer or a solicitor if I am buying for my home move in Long Stratton.
When it comes to conveyancing in Long Stratton the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.