Our Warkworth lawyer has uncovered a difference when comparing the information in the home valuation report and what is revealed within the legal papers for the property. My solicitor says that he must check that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach correct?
Your conveyancer 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 you.
I am the registered owner of a freehold property in Warkworth but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Warkworth and has limited impact for conveyancing in Warkworth 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 many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
This question may be naive but I am new to the home buying as FTB of a garden flat in Warkworth. Do I pick up the keys to the house on completion from my conveyancer? If so, I will find a local conveyancing solicitor in Warkworth?
On the day of completion you do not need to go to the conveyancers office in Warkworth. Conveyancing lawyers for you will arrange to send the purchase money to the seller's lawyers, and shortly after the monies have arrived, you should be called to collect the keys from the property Agents and start moving into the property. Usually this happens early afternoon.
Two weeks ago we had a mortgage agreed in principle with TSB. Warkworth conveyancing practitioners have been selected. What is the average time that one could expect to receive a mortgage offer from TSB?
Some lenders take longer than others. Have TSB completed the valuation? Have you informed TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We have agreed to purchase a house in Warkworth. One unusual aspect is that the roof has a solar panel. Bank of Ireland have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Bank of Ireland your lawyer must follow the formal instructions outlined in Part 2 of UK Finance Lenders’ Handbook for Bank of Ireland. The Council of Mortgage Lenders’ Handbook contains minimum requirements for solar panel roof-space leases, and lawyers are required to report to Bank of Ireland where a lease fails to meet these provisions. The provisions relate to the installation of panels on properties in England and Wales and is not limited to Warkworth.
I decided to have a survey completed on a house in Warkworth in advance of appointing conveyancers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some lenders will refuse to issue a loan on such a house.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. If you call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Warkworth. Conveyancing will be smoother if you use a solicitor in Warkworth especially if they regularly deal with such properties in Warkworth.
What does commercial conveyancing in Warkworth cover?
Warkworth conveyancing for business premises incorporates a broad range of advice, supplied by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
We are a couple of weeks into a leasehold purchase having been referred to solicitors by the estate agent to handle our conveyancing in Warkworth. We are not happy. Could you you assist me in finding new solicitors?
A lawyer would need to be really bad in order to consider changing them. Has your loan offer been generated? If so you will need to make them aware of the new solicitor and ensure the mortgage documents are re-sent. The solicitor ideally should be on the mortgage company approved list to avoid supplemental costs and delays. So that should be your starting point. The search tool will assist you in finding a bank approved solicitor for your conveyancing in Warkworth