The Shacklewell conveyancing firm handling our Shacklewell conveyancing has identified a difference between the information in the valuation survey and what is revealed within the title deeds. My solicitor informs me that he must ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s approach correct?
Your property 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.
It is 10 years ago since I purchased my home in Shacklewell. Conveyancing lawyers have just been instructed on the sale but I can't find my title deeds. Will this jeopardise the sale?
You need not be too concerned. First there is a chance that the deeds will be kept by your lender or they could be in the possession of the solicitor who oversaw your purchase. Secondly in most cases the land will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring current official copies of the land registers. Almost all conveyancing in Shacklewell relates to registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.
I am in the process of remortgaging my flat in Shacklewell, does my lawyer need to be on the Kent Reliance Conveyancing panel?
In theory, you could use a solicitor that is not on the Kent Reliance conveyancing panel, but Kent Reliance would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Will our lawyer be raising enquiries concerning flooding as part of the conveyancing in Shacklewell.
The risk of flooding is if increasing concern for solicitors dealing with homes in Shacklewell. Plenty of people will acquire a property in Shacklewell, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, however there are a various searches that may be initiated by the buyer or by their conveyancers which will give them a better understanding of the risks in Shacklewell. The standard information given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the owner to find out whether the property has historically flooded. In the event that flooding has previously occurred and is not notified by the vendor, then a buyer may commence a claim for damages as a result of such an incorrect answer. The purchaser’s solicitors may also conduct an enviro search. This should disclose whether there is any known flood risk. If so, additional investigations should be initiated.
About to purchase a new build apartment in Shacklewell. Conveyancing is a frightening process 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 conveyancing.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Shacklewell
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are architect prepared. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Our conveyancer in Shacklewell has identified a a legal deficiency with the lease for the property we are buying in Shacklewell. The seller’s lawyers have put forward title insurance as a solution. We are content with insurance and will cover the costs. Our solicitor has advised that as he is on the lender conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the bank?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Shacklewell conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the mortgage company are the client. The appropriate lender requirements must be adhered to by the mortgage company conveyancing panel who has to balance acting for you and the mortgage company