The West Thurrock conveyancing firm handling our West Thurrock conveyancing has discovered a discrepancy when comparing the assumptions in the valuation report and what is revealed within the legal papers for the property. My lawyer says that he is obliged to ensure that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s stance right?
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 both parties.
Do conveyancers request an advanced payment for my conveyancing in West Thurrock?
Where you are retaining lawyers for conveyancing in West Thurrock your lawyer will request that you put them with funds to cover the search fees. Generally this is requested to cover the fees of the Local Authority Search. When the down payment is as part of the total price then this will be required immediately ahead of exchange of contracts. Any further balance that is due should be transferred shortly before completion.
Our lender has recommended a law firm on their panel based in West Thurrock but I would rather instruct a conveyancing lawyer in West Thurrock local to me. Are you able to assist?
It is by no means the case that all West Thurrock conveyancing firms are approved and listed on all lender’s conveyancing panel. Use our search tool to locate a West Thurrock conveyancing solicitor on the on the lender panel.
I am the single recipient of my late grandmother’s estate and I have everything in my name alone, including the my former home in West Thurrock. The West Thurrock property was put into my name in October. I plan to dispose of the house. I do know about the Mortgage Lenders 6 month 'rule', meaning my property ownership may be treated the same way as if I'd bought the property in October. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. many lenders would take a practical view as this obligation principally exists to identify the purchase and immediately sell or the wholesaling and assigning of properties.
is it true that all West Thurrock conveyancing solicitors on the UBS conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the UBS approved list of solicitors they would need to be overseen by the SRA. Some lenders do permit licenced conveyancers on their panel and in such a situation the firms would be regulated by the Council of Licensed Conveyancers.
My offer on a house in West Thurrock has been agreed to, the vendors do however have a connected purchase. The sellers have offered on a property, but it’s not been accepted yet, and have viewings of other flats booked. I have chosen a local conveyancing solicitor in West Thurrock. What should be my next step? At what stage do I apply for the mortgage with UBS?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then survey, West Thurrock conveyancing search costs, etc). The first thing to do is ensure that your property lawyer is on the UBS conveyancing panel. Regarding the subsequent phase this very much depends on the circumstances of your case, attraction to the property and on the state of the market. In a buoyant market many home buyers will apply for a home loan with UBS and pay for the valuation and only if it was satisfactory would they ask their property lawyer to proceed with the conveyancing in West Thurrock.
My husband and I are 14 days into a freehold purchase having been directed to conveyancers by the selling agent to carry out the conveyancing in West Thurrock. I am not happy. Could you help me find new lawyers?
A conveyancer would have to be very bad to suggest replacing them. Has the mortgage offer been sent? If so you must inform them of the replacement conveyancer and ensure the offer are re-sent. Your new solicitor ideally needs to be on the mortgage company panel to avoid supplemental expenses and delays. So that should be your first question of the new conveyancers. The search tool can assist you in finding a lender approved conveyancer for your home move in West Thurrock
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £250,000 flat in West Thurrock in seven days. The freeholder has quoted £360 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in West Thurrock?
West Thurrock conveyancing on leasehold maisonettes more often than not involves the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries the majority will be willing to do so. They are at liberty to invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, otherwise the charge is not strictly payable. Reality however dictates that you have no choice but to pay whatever is demanded if you want to sell the property.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a West Thurrock conveyancing firm to help?
Most certainly. We can put you in touch with a West Thurrock conveyancing firm who can help.
An example of a Lease Extension case for a West Thurrock residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The unexpired lease term was 76 years.