The Richmond conveyancing firm handling our Richmond conveyancing has uncovered an inconsistency between the assumptions in the home valuation survey and what is revealed within the conveyancing documents. My lawyer has advised that he is obliged to ensure that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action correct?
Your conveyancing practitioner 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 you.
I can see plenty of information on this site regarding conveyancing in Richmond but can you isolate your top tip for finding the right conveyancer in Richmond
Do not opt for the cheapest Richmond conveyancing costs illustration. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
This question may be naive but I am unexperienced as FTB of a ground floor flat in Richmond. Do I receive the keys to the house on the completion date from my lawyer? If so, I will appoint a High Street conveyancing solicitor in Richmond?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the vendor’s solicitors, and once they have received this, you will be called to collect the keys from the selling Agents and move into your new home. This tends to happen between 1 and 3pm.
Is it the case that all Richmond solicitors on the Clydesdale conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Clydesdale conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. The majority of mortgage companies do list licenced conveyancers on their panel and in that case the firms would be regulated by the CLC.
A relative recommended that where I am purchasing in Richmond I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes included in the estimate for your Richmond conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Richmond around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information regarding Richmond.
2 months have elapsed following my purchase conveyancing in Richmond completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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 property 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.
I decided to have a survey completed on a house in Richmond ahead of retaining solicitors. I have been told that there is a flying freehold element to the property. Our surveyor has said that some banks will not give a mortgage on such a home.
It varies from the lender to lender. Lloyds has different instructions from Nationwide. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Richmond. Conveyancing may be slightly more expensive based on your lender's requirements.
I have just appointed agents to market my basement apartment in Richmond. Conveyancing has not commenced, however I have just received a yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is discharge the maintenance contribution as you normally would because all ground rent and maintenance charges should be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Leasehold Conveyancing in Richmond - A selection of Queries Prior to Purchasing
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Generally speaking the cost for major works tend not to be included within service charges, albeit that a few managing agents in Richmond obliged tenants to pay into a sinking fund and this is used to offset against major repairs or maintenance. Many Richmond leasehold flats will incur a service bill for maintenance of the building invoiced on behalf of the freeholder. Where you purchase the flat you will have to pay this charge, normally in instalments accross the year. This could be anything from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a rentcharge to be met annual, this is usually not a significant amount, say approximately £25-£75 but you should to enquire as on occasion it could be many hundreds of pounds. Best to be warned whether redecorating or some other major work is pending that will be shared amongst the leaseholders and will dramatically increase the the service charges or result in a one off payment.