My Street solicitor has uncovered an inconsistency between the information in the home valuation report and what is revealed within the conveyancing documents. My solicitor 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 solicitor’s stance correct?
Your lawyer 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 you.
Do lenders provide you with an approved list of Street conveyancing solicitors? How do you know who is on the HSBC conveyancing panel?
Street conveyancing firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.
We are planning to move property in April. Will my conveyancing solicitor communicate with the removal company on the completion day. As an aside, can you put forward a removal company in Street. Conveyancing solicitor was chosen before I stumbled across your website.
On the day of completion you can collect the house keys from the selling agent but this should only be done when the vendors lawyers confirm to the agent that the monies to complete are in and the keys can be passed over. After that you will need to tell the removal company that they can start moving you in. We do not recommend a particular removal company but can help you choose a residential property solicitor in Street or a solicitor with expertise in conveyancing in Street.
Does a directory service exist listing RBS panel conveyancers in Street on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. A small selection of mortgage companies make their panel listings open the public on the web. If you are looking for a Street lawyer on the RBS please make the most of our facility.
I am selling my house. I had a double glazing fitted in November 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Yorkshire BS are being problematic. The Street solicitor who is on the Yorkshire BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Yorkshire BS are requiring a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS 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.
My partner and I are planning on selling our property in Street and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any local lawyer would know this is not the case. For the life of me I don't know why the purchasers are using a national conveyancing outfit rather than a conveyancing solicitor in Street. We have lived in Street for 4 years we know of no issue. Do we contact our local Authority to seek confirmation need.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I am looking for a ground for flat up to £195,000 and found one close by in Street I like with a park and railway links nearby, however it's only got 51 remaining years left on the lease. I can't really find anything else in Street for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage that many years may be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
Do you have any advice for leasehold conveyancing in Street with the aim of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Street can be bypassed if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers’ solicitors. If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Arranging a new share certificate is often a time consuming formality and delays many a Street home move. If a reissued share certificate is required, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity. You believe that you know the number of years remaining on your lease but it would be advisable verify this via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. Some Street leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
Street Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
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Is anyone aware of any major works in the planning that could add a premium to the maintenance costs? Is the freehold reversion owned jointly by the leaseholders? What is the service charge and ground rent on the flat?