My Milton Keynes conveyancer has discovered an inconsistency when comparing the information in the home valuation report and what is revealed within the title deeds. My solicitor has advised that he needs to ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s stance appropriate?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions 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 FTB of a two bedroom flat in Milton Keynes. Do I receive the keys to the premises on completion from my conveyancer? If this is the case, I will find a High Street conveyancing solicitor in Milton Keynes?
On the day of completion you will not be required to attend the conveyancers office in Milton Keynes. Conveyancing lawyers for you will transfer the purchase money to the owner’s solicitors, and once they have received this, you should be called to collect the keys from the selling Agents and move into your new home. Usually this occurs early afternoon.
Does a directory service exist listing Coventry BS panel solicitors in Milton Keynes on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association sites. Very few lenders make their panel listings visible online. Where you are in need of a Milton Keynes conveyancer on the Coventry BS please use our facility.
I recently had an offer accepted on an apartment in Milton Keynes. My mortgage broker suggested a conveyancing practitioner. I paid an advanced payment of £225. Soon after, the lawyer called me sheepishly admitting that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
What can a local search inform me concerning the house we're buying in Milton Keynes?
Milton Keynes conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for example PSG The local search is essential in every Milton Keynes conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your new home. The search should supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one close by in Milton Keynes I like with a park and transport links nearby, however it only has 49 remaining years left on the lease. I can't really find anything else in Milton Keynes for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage the remaining unexpired lease term may be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
I own a leasehold flat in Milton Keynes. Conveyancing and Bank of Ireland mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Milton Keynes who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the new freeholder. You do not need to instruct a Milton Keynes conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a basement flat in Milton Keynes, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Milton Keynes with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease finishes on 21st October 2081
With only 56 years unexpired we estimate the premium for your lease extension to span between £29,500 and £34,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
What type of premises does your Milton Keynes conveyancing estimates apply to?
Our conveyancing quotes are only relevant to standard domestic premises in England & Wales. Where you have any different requirements for example industrial or agricultural property or commercial conveyancing in Milton Keynes do telephone us to discuss your requirements .