Our Penwortham solicitor has uncovered a difference when comparing the assumptions in the valuation survey and what is revealed within the legal papers for the property. My lawyer says that he is duty bound to check that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s course or action legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements 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.
five months have elapsed following my purchase conveyancing in Penwortham took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. 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 residence 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.
About to purchase a new build apartment in Penwortham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Penwortham
-
Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one round the corner in Penwortham I like with amenity areas and transport links in the vicinity, the downside is that it's only got 52 years unexpired on the lease. There is not much else in Penwortham for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage the shortness of the lease will be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
How easy is it to swap firm as I have to instruct one who is on the The Royal Bank of Scotland conveyancing panel. I instructed a local conveyancing solicitor in Penwortham round the corner but she is not accepted by The Royal Bank of Scotland
We will our best to assist in finding you a conveyancing solicitor in Penwortham on the The Royal Bank of Scotland panel. Please note that the conveyancers that we work with do not pay us fee if you instruct them and are under regulation of the Solicitors Regulation Authority who regulate all conveyancing solicitors in Penwortham. Using the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Penwortham.
I need to find a conveyancing solicitor for freehold conveyancing in Penwortham. I happened to chance upon a web site which appears to be the ideal solution If there is a chance to get all the legals done via email that would be ideal. Should I 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?