The Shortlands conveyancing firm handling our Shortlands conveyancing has discovered an inconsistency when comparing the assumptions in the valuation report and what is revealed within the conveyancing documents. My solicitor has advised that he needs to check that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s approach correct?
Your conveyancing practitioner 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.
The deeds to our property are lost. The solicitors who handled the conveyancing in Shortlands 10 years ago no longer exist. What do I do?
Assuming the title is registered the details of your proprietorship will be retained by the Land Registry under a Title Number. It is possible to execute a search at the Land Registry, locate your property and obtain up to date copies of the property title for a small fee. If the title is Leasehold then the Land Registry will usually retain a certified duplicate of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
I am purchasing my first flat in Shortlands benefiting from help to buy. The sellers would not move on the price so I negotiated 6k of extras instead. The property agent advised me not inform my lawyer about the side-deal as it would impact my mortgage with Platform Home Loans Ltd. 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 decided to have a survey completed on a property in Shortlands before retaining solicitors. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some lenders tend not issue a loan on such a premises.
It depends who your proposed lender is. Santander has different instructions from Nationwide. If you call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Shortlands. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Shortlands to see if the conveyancing costs will increase in light of this.
What are your top tips when it comes to choosing a Shortlands conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Shortlands conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Shortlands conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be of use:
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What are the costs for lease extension conveyancing? How many lease extensions has the firm conducted in Shortlands in the last twenty four months?
Following years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Shortlands. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to calculate the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Shortlands premises is Ravensbourne Lodge 4 Highland Road in February 2013. the Tribunal held that the amount payable for the freehold was £22,268
Your search tool is useful but there are many lawyers listed near Shortlands being on the lender conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the lender approved panel?
We do not recommend specific Shortlands firms as the right Shortlands conveyancing firm for you depends on where your priorities lie. For example you may require a local firm with Shortlands knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..