Our Thornton conveyancer has uncovered a discrepancy when comparing the assumptions in the home valuation survey and what is in the title deeds. My solicitor informs me that he is duty bound to ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s approach appropriate?
Your lawyer 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.
I own a freehold residence in Thornton but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Thornton and has limited impact for conveyancing in Thornton 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Will my conveyancer be raising enquiries regarding flooding during the conveyancing in Thornton.
Flooding is a growing risk for conveyancers dealing with homes in Thornton. Plenty of people will purchase a property in Thornton, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, but there are a various searches that may be initiated by the purchaser or by their conveyancers which should figure out the risks in Thornton. The conventional set of completed inquiry forms given to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the seller to determine if the premises has suffered from flooding. If the property has been flooded in past and is not revealed by the vendor, then a buyer could commence a claim for damages as a result of such an inaccurate reply. The buyer’s solicitors will also carry out an environmental report. This will indicate if there is a recorded flood risk. If so, further investigations should be initiated.
I got the keys to my flat on 10 March and the transaction details is yet to be registered. Need I be worried? My conveyancing solicitor in Thornton expressed confidence that it would be registered in less than a month. Are titles in Thornton particularly slow to register?
There is nothing unique when it comes to conveyancing in Thornton registration formalities. As opposed to being determined by geographic area, timescales can adjust subject to the party submitting the application, whether there are errors and if the Land registry communicate with any 3rd persons or bodies. At present approximately three quarters of submission are completed in less than three weeks but occasionally there can be protracted delays. Registration takes place once the buyer has moved in to the property so an expedited registration is not always an essential issue yet where it is urgent that the the registration takes place urgently then you or your conveyancer could contact the land registry and explain the circumstances.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a quick, chain free conveyancing. Thornton is the location of the property. Is there any advice you can give?
Flying freeholds in Thornton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Thornton you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Thornton 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.
Living abroad I am unable to visit my Thornton conveyancing practitioners office to sign documents for conveyancing in Thornton – will this be an issue?
Not a problem. Thornton conveyancing lawyers can undertake home moves for clients throughout the rest of the country. It is not necessary for you to be able to be present a Thornton conveyancers office. Almost all solicitor can undertake everything through post, email, telephone and fax.