The Burscough conveyancing firm handling our Burscough conveyancing has spotted a difference when comparing the surveyor’s assumptions in the valuation survey and what is revealed within the title deeds. My solicitor has advised that he is obliged to ensure that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action correct?
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.
Are the Burscough conveyancing solicitors identified as being on the Nationwide conveyancing panel, together with their details provided by Nationwide?
Burscough conveyancing firms themselves provide us confirmation that they are on the Nationwide conveyancing panel as opposed to being supplied with a list from Nationwide directly.
A friend advised me that in purchasing a property in Burscough there may be various restrictions affecting the ability to carry out external changes to the property. Is this right?
We are aware of anumerous of properties in Burscough which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Burscough should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am the sole beneficiary of my late father’s estate and I have everything in my name now, including the house in Burscough. The Burscough property was put into my name in October. I plan to dispose of the property. I do know about the CML six month 'rule', meaning my proprietorship will be considered the same way as though I had purchased the property in October. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. Some mortgage companies would take a pragmatic view as this clause is principally there to pick up on subsales or the quick reselling of property.
I have decided to exercise my right to buy my property in Burscough off the council. I have a mortgage offer with Coventry BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
Me and my brother have a terraced Edwardian house in Burscough. Conveyancing solicitor acted for me and Birmingham Midshires. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Burscough and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with the conveyancing lawyer who conducted the purchase.
I'm buying my first flat in Burscough benefiting from help to buy. The sellers refused to budge the price so I negotiated £7000 of additionals instead. The sale representative suggested that I not to tell my solicitor about this deal as it will jeopardize my mortgage with the bank. 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 am looking for a flat up to £245,000 and identified one round the corner in Burscough I like with amenity areas and station in the vicinity, however it's only got 52 remaining years left on the lease. There is not much else in Burscough suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan the shortness of the lease will likely be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.