The Gower conveyancing firm handling our Gower conveyancing has discovered an inconsistency between the information in the valuation report and what is revealed within the conveyancing documents. My lawyer says that he is obliged to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my lawyer’s stance 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 both parties.
Should lawyers request an advanced payment for my conveyancing in Gower?
Where you are retaining lawyers for conveyancing in Gower your lawyer will request that you place them with funds to cover the the cost of the conveyancing searches. Ordinarily this is asked for to cover the fees of the Local Authority Search. If any down payment is payable against the purchase price then this should be needed shortly before contracts are exchanged. The final balance that is due will be payable a couple of days ahead of the completion date.
I'm purchasing my first flat in Gower with the aid of help to buy. The sellers would not budge the price so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not to tell my conveyancer about the deal as it will adversely affect my mortgage with Coventry Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I have been on the look out for a ground for flat up to £245,000 and found one round the corner in Gower I like with amenity areas and railway links nearby, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Gower for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I am selling my property. My previous lawyers has retired. I am in need of a recommendation of a conveyancing firm. I happen to live in Gower if that makes a difference.
You should use our search tool to help you choose a solicitor for your conveyancing in Gower. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
My step-father has recommend that I appoint his conveyancing solicitors in Gower. Should I use them?
There are no two ways about it the best way to find a conveyancing lawyer is to seek referrals from friends or family who have actually used the solicitor you're considering.