My West Hill conveyancer has spotted a difference between the information in the home valuation report and what is in the conveyancing documents. My solicitor has advised that he must ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s stance legitimate?
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 both parties.
I bought my home on 13 September and the transaction details is not yet registered. Should I be concerned? My conveyancing solicitor in West Hill said it will be dealt with in less than a month. Are titles in West Hill particularly slow to register?
As far as conveyancing in West Hill is concerned, registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timescales can vary subject to the party submitting the application, whether there are errors and if the Land registry communicate with any 3rd persons or bodies. Currently roughly 80% of submission are fully addressed in less than three weeks but some can be subject to protracted delays. Registration is effected after the new owner is living at the property thus an expedited registration is not always top priority but where it is urgent that the the registration takes place urgently then you or your conveyancer could communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in West Hill differ for newly converted properties?
Most buyers of new build premises in West Hill contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is ready to move into. This is because builders in West Hill usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in West Hill or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, chain free conveyancing. West Hill is where the house is located. What do you suggest?
Flying freeholds in West Hill are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside West Hill you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in West Hill may determine 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 residence.
I have been recommended by a number of property agents in West Hill to select a conveyancer using your seach tool. What’s the financial upside for Estate Agents to promote your services rather than alternative conveyancing organisations?
We refuse to give any financial incentive for sending work in our direction. We found it would be just too difficult a fee because home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My wife and I have hit a brick wall in negotiating a lease extension in West Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a West Hill conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a West Hill residence is 158 West Hill in November 2010. the Tribunal held that the premium to be paid for the freehold reversion should be £99,650 This case affected 7 flats. The number of years remaining on the existing lease(s) was 75.88 years.
What makes a West Hill lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in West Hill. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
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A provision for the recovery of money spent for the benefit of another party.
You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Coventry Building Society, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.