Our Royton conveyancer has spotted a difference when comparing the information in the home valuation survey and what is in the legal papers for the property. My solicitor informs me that he is obliged to check that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s stance legitimate?
Your 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.
Why do I have to pay up front when it comes to conveyancing in Royton?
If you are buying a property in Royton your lawyer will request that you to provide them with funds to cover the the cost of the conveyancing searches. Ordinarily this is needed to cover the fees of the Local Authority Search. If any deposit is as part of the purchase price then this should be required immediately in advance of contracts are exchanged. The closing balance that is needed should be sent to your lawyer a few days prior to the completion date.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Royton. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 24/12/2024, the requirements read as follows :
Me and my brother purchased a terraced Edwardian property in Royton. Conveyancing practitioner represented me and Santander. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Royton and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing solicitor who conducted the conveyancing.
Due to the encouragement of my in-laws I had a survey completed on a house in Royton prior to retaining lawyers. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some lenders tend not grant a loan on such a home.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Royton. Conveyancing may be slightly more expensive based on your lender's requirements.
If all goes to plan we aim to complete the disposal of our £225,000 flat in Royton in just under a week. The freeholder has quoted £300 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Royton?
For most leasehold sales in Royton conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Completing conveyancing due diligence questions
Where consent is required before sale in Royton
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Royton - Sample of Queries before buying
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What restrictions are contained in the Royton Lease? Are any of leasehold owners in arrears of their service charge payments? What is the name of the managing agents?