The Wotton under Edge conveyancing firm handling our Wotton under Edge conveyancing has identified a difference between the assumptions in the valuation report and what is revealed within the legal papers for the property. My solicitor informs me that he is duty bound to check that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s approach right?
Your property 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 you.
Should my solicitor be asking questions about flooding during the conveyancing in Wotton under Edge.
The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Wotton under Edge. Some people will acquire a house in Wotton under Edge, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, but there are a number of checks that can be carried out by the purchaser or by their solicitors which can figure out the risks in Wotton under Edge. The conventional set of property information forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the vendor to discover if the property has suffered from flooding. In the event that the premises has been flooded in past and is not disclosed by the vendor, then a buyer could bring a compensation claim stemming from an misleading answer. A purchaser’s lawyers will also conduct an environmental report. This should indicate whether there is any known flood risk. If so, additional investigations will need to be conducted.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Wotton under Edge is where the house is located. Is there any guidance you can give?
Flying freeholds in Wotton under Edge are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wotton under Edge you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wotton under Edge may decide 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 premises.
What tools are available to search for a Wotton under Edge law firm on the Norwich and Peterborough Building Society conveyancing panel? I have a car and am prepared to travel upto 25miles to meet the conveyancer.
You can use the facility on this page. Please choose the mortgage company and your location and you will see a number of Wotton under Edge conveyancing lawyers based on proximity. We have listed some Wotton under Edge conveyancing firms towards the end of this page and you can ring them to check whether they are on the Norwich and Peterborough Building Society member panel
My husband and I are new on the property ladder - had an offer accepted, but the agent told us that the seller will only proceed if we appoint their chosen conveyancers as they want an ‘expedited deal’. We would rather use a family solicitor accustomed to conveyancing in Wotton under Edge
It is unlikely the owners are driving this. If they require ‘a quick sale', taking such a hostile approach to a motivated buyer is counter productive. Try to communicate with the vendors directly and make the point that (a)you are serious purchasers (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you are going to instruct your preferred Wotton under Edge conveyancing firm - rather thanthose that will provide the estate agent a commission or achieve conveyancing targets set by head office.
If all goes to plan we aim to complete the disposal of our £175,000 apartment in Wotton under Edge next week. The landlords agents has quoted £360 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Wotton under Edge?
Wotton under Edge conveyancing on leasehold flats nine out of ten times necessitates fees being levied by managing agents :
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Completing pre-exchange questions
Where consent is required before sale in Wotton under Edge
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I own a 2 bed flat in Wotton under Edge, conveyancing was carried out March 2010. Can you work out an approximate cost of a lease extension? Comparable properties in Wotton under Edge with an extended lease are worth £195,000. The ground rent is £45 levied per year. The lease ends on 21st October 2087
With only 63 years remaining on your lease we estimate the premium for your lease extension to range between £16,200 and £18,600 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply 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 may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.