The South Tottenham conveyancing firm handling our South Tottenham conveyancing has discovered a discrepancy between the information in the home valuation survey and what is in the conveyancing documents. My solicitor says that he is obliged to check that the bank is OK with this discrepancy and is content to go ahead. Is my solicitor’s course or action legitimate?
Your solicitor must comply with the UK Finance Lenders’ Handbook specifications 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 the registered owner of a freehold premises in South Tottenham yet pay rent, why is this and what is this?
It’s unusual for properties in South Tottenham and has limited impact for conveyancing in South Tottenham but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
I have decided to exercise my right to buy my property in South Tottenham off the council. I have a mortgage agreed with Leeds Building Society. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
I am due to exchange contracts on my flat. I had a double glazing fitted in January 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Aldermore are being pedantic. The South Tottenham solicitor who is on the Aldermore conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Aldermore are requiring a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I've read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local South Tottenham solicitor - who is on the Principality conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own South Tottenham surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I was recommended by numerous selling agents in South Tottenham to find a property lawyer on your site. Is there a financial upside for Estate Agents to recommend your lawyers rather than another?
We refuse to offer any financial incentive for pointing buyers and sellers in our direction. We found it would be just too difficult a fee because home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
My partner has suggested that I instruct his conveyancers in South Tottenham. Do I take his advice?
No doubt the best way to select a conveyancing lawyer is to have recommendations from friends or family who have actually used the firm that you are considering.
Me and my wife are disposing of a South Tottenham flat we inherited ten years ago in 2011. I have over 15 years conveyancing knowledge and, although retired, intend to conduct the conveyancing. The buyer's conveyancing practitioner has informed me that their building society will not allow you to do your own conveyancing requiring the funds to be sent to a solicitor's bank account.
Lending requirements to conveyancers from all mainstream lenders state that If the vendor does not have legal representation the purchaser’s lawyers should check whether the bank needs to be informed so that a decision can be reached if they are willing to progress.