We were about to retain a conveyancing solicitor in Great Ayton found by you but have come across some other quotes on the internet seem less pricey – why is this?
One can find many firms of firms advertising self styled cut-price conveyancing, unfortunately it’s common in such cases for supplementalcharges end up with the completion bill markedly uplifted. Solicitors ought to ensure fees listed in terms of engagement should be fair and reasonable and be applied The law firms that we list for conveyancing in Great Ayton genuinely set out all legal fees for the property you plan tobuy.
Our Great Ayton conveyancer has spotted an inconsistency when comparing the surveyor’s assumptions in the valuation report and what is revealed within the title deeds. My lawyer has advised that he needs to ensure that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s stance right?
Your solicitor must comply with the UK Finance Lenders’ Handbook provisions 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.
I purchased a freehold residence in Great Ayton yet invoiced for rent, why is this and what is this?
It is rare for properties in Great Ayton and has limited impact for conveyancing in Great Ayton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
It has been 4 months following my purchase conveyancing in Great Ayton took place. I have checked the Land Registry website which shows that I paid £150,000 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 premises 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.
I am purchasing a new build house in Great Ayton benefiting from help to buy. The builders refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The estate agent told me not disclose to my conveyancer about the deal as it may jeopardize my loan with the bank. 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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Great Ayton is where the house is located. What do you suggest?
Flying freeholds in Great Ayton are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Great Ayton you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Great Ayton 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.