My Stokesley lawyer has spotted a difference between the information in the home valuation report and what is in the title deeds. My lawyer informs me that he is duty bound to ensure that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s approach appropriate?
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 both parties.
Finally the sale completed on my house in Stokesley last December yet the purchaser is e-mailing me complaining that her solicitor needs to hear from mine. What are the post completion sale legalities following completion?
Following your disposal your solicitor should send the transfer deeds and all additional paperwork to the purchaser's lawyers. Depending on the transaction, your solicitor should also confirm that the mortgage has been discharged to the buyers lawyers. There is unlikely to be post completion formalities just for conveyancing in Stokesley.
I purchased a semi-detached Victorian house in Stokesley. Conveyancing lawyer acted for me and Coventry Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stokesley and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing practitioner who conducted the conveyancing.
I'm purchasing a new build house in Stokesley with the aid of help to buy. The builders would not reduce the price so I negotiated £7000 of extras instead. The property agent suggested that I not reveal to my solicitor about the deal as it would jeopardize my mortgage with Bank of Ireland. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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 need to find a conveyancing solicitor for leasehold conveyancing in Stokesley. I have stumble across a web site which appears to be the ideal answer If there is a chance to get all formalities completed via phone that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What makes a Stokesley lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Stokesley. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:
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A duty to insure the building
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Virgin Money, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.
Stokesley Conveyancing for Leasehold Flats - Sample of Questions you should ask before buying
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The majority of Stokesley leasehold properties will be liable to pay a service charge for maintenance of the block set by the management company. If you acquire the apartment you will have to pay this contribution, normally quarterly accross the year. This could vary from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent to be met yearly, this is usually not a exorbitant sum, say around £50-£100 but you need to enquire it because sometimes it can be surprisingly expensive. Does the lease include onerous restrictions? It is important to be aware whether a new roof is being put on or some other significant cost is due shortly to be shared between the leasehold owners and could well dramatically impact the level of the service charges or necessitate a one time invoice.