The Wilsden conveyancing firm handling our Wilsden conveyancing has uncovered a discrepancy between the assumptions in the valuation survey and what is revealed within the title deeds. My lawyer has advised that he is duty bound to check that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s approach correct?
Your property lawyer 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.
Completed the sale of my flat in Wilsden last September but the buyer keeps Skype messaging daily to say their solicitor needs to hear from myconveyancer. What should my lawyer have done now that I have sold?
After completion of your sale your conveyancer is committed to forward the transfer deeds and all supplemental paperwork to the purchaser's conveyancer. If applicable, your solicitor should also send confirmation that the mortgage has been repaid to the buyers solicitors. There is unlikely to be post completion formalities specific conveyancing in Wilsden.
Various internet forums that I have visited warn that are a common reason for stalling in Wilsden conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Wilsden.
Me and my brother purchased a 4 bedroom Edwardian house in Wilsden. Conveyancing solicitor represented me and Accord Mortgages Ltd. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold under the exact same address. Is it worth asking Accord Mortgages Ltd to clarify?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wilsden and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with your conveyancing practitioner who conducted the work.
I'm purchasing my first flat in Wilsden with a mortgage from Britannia. The developers would not budge the price so I negotiated 6k of extras instead. The sale representative advised me not disclose to my solicitor about the side-deal as it could adversely affect my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the encouragement of my in-laws I had a survey completed on a property in Wilsden before instructing lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor has said that some lenders will refuse to grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different instructions from Birmingham Midshires. If you e-mail us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Wilsden. Conveyancing may be slightly more expensive based on your lender's requirements.