My Stoke Park lawyer has identified a difference when comparing the information in the valuation survey and what is revealed within the legal papers for the property. My solicitor says that he needs 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 conditions 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.
A friend suggested that if I am purchasing in Stoke Park I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Stoke Park conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Stoke Park around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Stoke Park Education with plans and statistics, Local Amenities and other useful information regarding Stoke Park.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Stoke Park is the location of the property. Can you offer any assistance?
Flying freeholds in Stoke Park are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stoke Park you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stoke Park may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
What is different about your site and alternative online quote calculators when it comes to conveyancing in Stoke Park?
At this site secure a conveyancing costs illustration via a Solicitor or Licensed Conveyancer that understands the issues for your conveyancing in Stoke Park. As opposed to estate agents and many comparison sites we are not in the business of charging firms a commission if you choose them for your conveyancing in Stoke Park
I work for a busy estate agency in Stoke Park where we have experienced a number of leasehold sales derailed due to short leases. I have been given inconsistent advice from local Stoke Park conveyancing solicitors. Please can you clarify whether the seller of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Stoke Park - Examples of Questions you should ask before Purchasing
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Who manages the building? Is the freehold owned jointly by the leaseholders? It would be sensible to find out if there is anything that is prohibited in the lease. For example it is fairly common in Stoke Park leases that pets are not allowed in in a block in Stoke Park. If you like the apartmentin Stoke Park but your dog can’t live with you then you will be faced difficult choice.
I am purchasing a property and require a conveyancing solicitor in Stoke Park who is on the mortgage company solicitor panel. Can you recommend a Stoke Park or local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the lender who do conveyancing in Stoke Park. We dont recommend any particular conveyancing practice.