My West Byfleet conveyancer has uncovered an inconsistency between the information in the home valuation survey and what is revealed within the conveyancing documents. My solicitor has advised that he is duty bound to check that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s stance right?
Your 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 you.
The formalities of my remortgage has taken place for my property in West Byfleet. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
It is not clear whether my bank requires a lease extension. I have telephoned my West Byfleet bank branch on a couple of occasions and was reassured it wasn't a problem and they will lend. My West Byfleet conveyancing solicitor - who is on the lender conveyancing panel- called and was told they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The solicitor has to comply with the CML Handbook section two requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
After shopping around on the internet I have found a West Byfleet conveyancer having made sure that they are on the Bank of Ireland conveyancing panel. Does my lawyer arrange the survey of the property?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your West Byfleet postcode. As you are getting a mortgage with Bank of Ireland, you could contact them to see if they have a list of approved surveyors in West Byfleet.
Just bought a detached house in West Byfleet , What is the estimated time for the Land Registry to register my proprietorship? My West Byfleet conveyancing solicitor works at snail pace, so I want to be certain the registration formalities are concluded.
As far as conveyancing in West Byfleet registration is no quicker or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can vary according to the party submitting the application, whether there are errors and whether the Land registry communicate with any 3rd persons or bodies. At present roughly 80% of submission are completed in less than three weeks but occasionally there can be extensive hold-ups. Registration takes place once the new owner has moved in to the premises therefore an expedited registration is not usually an essential issue but if there is a degree of urgency associated with the registration then you or your conveyancer could contact the land registry and explain the circumstances.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one round the corner in West Byfleet I like with open areas and transport links nearby, however it only has 51 years on the lease. I can't really find anything else in West Byfleet suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan the shortness of the lease will likely be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
Taking into account that I will soon spend over three hundred thousand on 3 bedroom house in West Byfleet I would like to have a conversation with the solicitor about myhouse move ahead of giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - we would be happy to talk to you we do not take any clients on without you first talking to the conveyancer due to be conducting your property ownership legalities in West Byfleet.There is no ‘factory style conveyancing’ - each client is an important person, not a case reference. The practices that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in West Byfleet should be the amount on the final invoice that you are charged.
I have just appointed agents to market my basement apartment in West Byfleet. Conveyancing has not commenced, but I have just received a half-yearly maintenance charge invoice – Do I pay up?
It best that you discharge the service charge as usual because all ground rent and maintenance invoices should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I acquired a garden flat in West Byfleet, conveyancing having been completed 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in West Byfleet with over 90 years remaining are worth £255,000. The ground rent is £45 charged once a year. The lease ceases on 21st October 2098
With 73 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.