Our Bournemouth solicitor has identified an inconsistency when comparing the assumptions in the valuation survey and what is revealed within the legal papers for the property. My lawyer informs me that he is duty bound to check that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s stance appropriate?
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 both parties.
We are looking to buy a property and need a conveyancing solicitor in Bournemouth who is on the Santander approved panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Santander . We don't recommend any particular firms conducting conveyancing in Bournemouth.
My relative recommended that if I am purchasing in Bournemouth I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard Bournemouth conveyancing searches. It is not a small report of more than thirty pages, listing and setting out significant information about Bournemouth around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information regarding Bournemouth.
I am purchasing my first flat in Bournemouth with the aid of help to buy. The developers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not reveal to my conveyancer about this deal as it will affect my loan with Bank of Ireland. Should I keep quiet?.
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.
I am looking to sell my property. My former lawyers has retired. I would be grateful for any recommendation of a conveyancing firm. Im based in Bournemouth if that makes things easier.
Do use our search tool to help you choose a solicitor for your conveyancing in Bournemouth. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
Are there frequently found defects that you see in leases for Bournemouth properties?
There is nothing unique about leasehold conveyancing in Bournemouth. Most leases are drafted differently and legal mistakes in the legal wording can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
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Service charge per centages that don't add up correctly leaving a shortfall
You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Chelsea Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.
I own a split level flat in Bournemouth, conveyancing having been completed in 1997. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Bournemouth with a long lease are worth £216,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2094
With just 70 years unexpired the likely cost is going to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.