Our Billingham lawyer has identified a discrepancy between the surveyor’s assumptions in the valuation report and what is in the legal papers for the property. My lawyer says that he is obliged to check that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s course or action 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.
I have been recommended a conveyancing solicitor in Billingham. I I would like to check if they are on the Aldermore approved list of lawyers. Could you or the lender confirm if they are on the panel?
The first thing to do is e-mail your conveyancer and ask them if they can act for the bank. Alternatively you should get in touch with Aldermore who may be able to assist.
Will my solicitor be raising questions about flooding as part of the conveyancing in Billingham.
Flooding is a growing risk for solicitors carrying out conveyancing in Billingham. Plenty of people will acquire a house in Billingham, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, however there are a numerous searches that may be carried out by the buyer or by their lawyers which can figure out the risks in Billingham. The conventional set of property information forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the seller to determine whether the premises has ever been flooded. In the event that flooding has previously occurred which is not notified by the seller, then a buyer could issue a compensation claim as a result of such an incorrect reply. A buyer’s lawyers should also carry out an enviro search. This should disclose if there is any known flood risk. If so, further inquiries should be conducted.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Billingham is where the house is located. Can you shed any light on this issue?
Flying freeholds in Billingham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Billingham you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Billingham may determine 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.
I need to retain a conveyancing solicitor for purchase conveyancing in Billingham. I have land on a web site which appears to be the ideal answer If it is possible to get all the legals done via phone that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What advice can you give us when it comes to choosing a Billingham conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Billingham conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with several firms including non Billingham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:
If the firm is not ALEP accredited then what is the reason? What volume of lease extensions has the firm completed in Billingham in the last 12 months?
Billingham Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying
Please note that where the lease has less than eighty years it will impact the salability of the flat. It is worth checking with your bank that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth discovering what this would cost. For most Billinghamlease extensions you would be be obliged to have been the owner of the premises for 24 months before you are eligible to extend the lease. The answer will be important as a) areas can cause problems in the building as the communal areas may begin to deteriorate where maintenance are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to have all the details