The Whitehaven conveyancing firm handling our Whitehaven conveyancing has identified a discrepancy when comparing the surveyor’s assumptions in the home valuation survey and what is in the legal papers for the property. My lawyer has advised that he is duty bound to ensure that the lender is happy with this discrepancy and is still content to lend. Is my conveyancer’s stance appropriate?
Your lawyer must comply with the UK Finance Lenders’ Handbook specifications 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.
Is there a reason why leasehold purchase conveyancing in Whitehaven is more expensive?
In summary, leasehold conveyancing in Whitehaven and Cumbria usually necessitates more work compared to freehold conveyancing. This includes reviewing the lease, liaising with the landlord about the service of appropriate notices, procuring current service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
I am buying a terraced house in Whitehaven. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Whitehaven you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Whitehaven.
Forgive me if this question is silly but I am unexperienced as FTB of a ground floor flat in Whitehaven. Do I receive the keys to the premises on completion from my lawyer? If so, I will use a High Street conveyancing solicitor in Whitehaven?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the seller's solicitors, and once they have received this, you will be called to collect the keys from the Estate Agents and start moving into the property. This tends to happen between 1 and 3pm.
I have paid off my mortgage with Coventry BS. I assume I don't need a Whitehaven property lawyer on the Coventry BS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
Planning on purchasing a house in Whitehaven. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Aldermore conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Whitehaven conveyancing practitioner is on the Aldermore conveyancing panel.
four months have gone by following my purchase conveyancing in Whitehaven concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Are there frequently found deficiencies that you come across in leases for Whitehaven properties?
There is nothing unique about leasehold conveyancing in Whitehaven. Most leases are unique and drafting errors can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
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Repairing obligations to or maintain parts of the premises A duty to insure the building
You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Barnsley Building Society, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.
Whitehaven Leasehold Conveyancing - Examples of Questions you should ask Prior to buying
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What is the maintenance charge and ground rent on the property? The prefered form of lease structure is where the freehold title is in the ownership of the leaseholders. In this arrangement the lessees benefit from control and notwithstanding that a managing agent is frequently employed if it is larger than a house conversion, the managing agent retained by the leaseholders. What prohibitions are contained in the Whitehaven Lease?