The New Beckenham conveyancing firm handling our New Beckenham conveyancing has discovered a discrepancy when comparing the surveyor’s assumptions in the valuation report and what is revealed within the legal papers for the property. My lawyer has advised that he is obliged to ensure that the bank is happy with this discrepancy and is still content to lend. Is my conveyancer’s approach legitimate?
Your conveyancer 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.
Why do I have to pay up front when it comes to conveyancing in New Beckenham?
Where you are retaining lawyers for conveyancing in New Beckenham your lawyer will request that you to provide them with monies to cover the the cost of the conveyancing searches. Generally this is called for to cover the fees of the conveyancing searches. When the down payment is as part of the sale price then this should be needed shortly ahead of exchange of contracts. The final balance that is due should be transferred shortly before completion.
We are hoping to buy a newly converted apartment in New Beckenham with a residential mortgage from HSBC Bank.We use our New Beckenham conveyancing lawyer but HSBC Bank informed us she’s not on their "panel". We have to appoint a HSBC Bank panel lawyer or retain our high street solicitor and pay for a HSBC Bank panel lawyer to act for them. This seems very unfair; is there anything we can do?
No, not really. The loan offered to you is subject to its various provisions, one of which will be that solicitors must be on the HSBC Bank solicitor panel. in the past, most banks had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for HSBC Bank
I have justfound out that Wolstenholmes have closed. They conducted my conveyancing in New Beckenham for a purchase of a leasehold flat 10 months ago. How can I establish that the property is not still registered in the name of the previous owner?
The quickest method to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of New Beckenham conveyancing specialists.
I opted to have a survey done on a house in New Beckenham before retaining solicitors. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks tend refuse to issue a loan on a flying freehold property.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in New Beckenham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in New Beckenham to see if the conveyancing costs will increase in light of this.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in New Beckenham. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in New Beckenham ?
The majority of houses in New Beckenham are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in New Beckenham so you should seriously consider looking for a New Beckenham conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your solicitor will advise you fully on all the issues.