The Royston conveyancing firm handling our Royston conveyancing has uncovered a discrepancy between the information in the valuation survey and what is in the legal papers for the property. My solicitor has advised that he is duty bound to ensure that the lender is happy with this discrepancy and is still content to lend. Is my lawyer’s approach correct?
Your solicitor 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.
I am buying my first flat in Royston with a mortgage from Clydesdale. The sellers would not move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep suggested that I not disclose to my lawyer about this side-deal as it may affect my loan with Clydesdale. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I opted to have a survey carried out on a property in Royston prior to appointing solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some banks will refuse to give a loan on such a house.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Royston. Conveyancing may be slightly more expensive based on your lender's requirements.
Am I better off to go with a Royston conveyancing solicitor based in the area that I am hoping to buy? I have an old university friend who can execute the conveyancing however her office is 300kilometers drive away.
The benefit of a high street Royston conveyancing practice is that you can attend the office to sign documents, present your ID and apply pressure on them where appropriate. Having local Royston know how is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and on the whole were impressed that should trump using an unfamiliar Royston conveyancing lawyer solely due to them being local.
I own a leasehold house in Royston. Conveyancing and Alliance & Leicester mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Royston who acted for me is not around. Any advice?
First contact HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Royston conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I bought a basement flat in Royston, conveyancing having been completed in 1995. How much will my lease extension cost? Similar flats in Royston with an extended lease are worth £207,000. The average or mid-range amount of ground rent is £60 levied per year. The lease ends on 21st October 2082
With 57 years remaining on your lease we estimate the price of your lease extension to range between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
I have just become aware that one of the directors of the conveyancing practice acting on the purchase conveyancing in Royston is an uncle of the vendor. Is this allowed?
On the basis that no conflict arises this is permitted. Where you are needing mortgage finance then the lender may have a say as many mortgage companies have specific requirements concerning this. For example for RBS (One Account) as of 5/7/2025, the requirements read as follows :