My Camberley conveyancer has identified an inconsistency between the assumptions in the home valuation report and what is in the title deeds. My lawyer has advised that he is duty bound to ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s stance right?
Your solicitor 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.
Can you explain why leasehold purchase conveyancing in Camberley costs more?
The conveyancing charges on a leasehold premises in Camberley is often higher when contrasted to a freehold property. This is due to the extra work necessary in communicating with the landlord and managing agents to obtain evidence about whether the rent and service fee have been paid and whether there are any significant expenditure in the foreseeable future on repairs or maintenance of the building.
Does a directory service exist listing Aldermore panel solicitors in Camberley on the Building Society Association’s Website?
No. There is no such directory service on the CML or Building Society Association websites. Very few lending institutions make their panel listings viewable on the web. Where you are looking for a Camberley conveyancing practitioner on the Aldermore please use our facility.
Can I be sure that the Camberley conveyancing solicitor on the Yorkshire BS panel is any good?
When it comes to conveyancing in Camberley obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the solicitor conducting your conveyancing.
Two weeks ago we had a mortgage agreed in principle with UBS. Camberley conveyancing practitioners were chosen. How long does it take for UBS to forward the offer to the conveyancing practitioner?
There is no definitive answer here. Have UBS done the survey? Have you informed UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
My wife and I purchased a renovated Edwardian house in Camberley. Conveyancing practitioner represented me and HSBC Bank. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold under the matching property. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register for 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 Camberley and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing practitioner who conducted the purchase.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Camberley is where the house is located. Can you shed any light on this issue?
Flying freeholds in Camberley are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Camberley you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Camberley 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 property.
Last May I purchased a leasehold house in Camberley. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Camberley - Sample of Queries Prior to Purchasing
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Plenty Camberley leasehold flats will have a service bill for maintenance of the building invoiced by the management company. Should you purchase the flat you will have to pay this amount, normally in instalments accross the year. This could differ from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent to be met annual, normally this is not a significant sum, say around £25-£75 but you should to enquire as sometimes it could be prohibitively expensive. Where a Camberley lease has less than 80 years it will affect the marketability of the apartment. Check with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of what this would cost. Remember, in most cases you would be required to have owned the property for two years in order to be entitled to exercise a lease extension. The answer will be important as a) areas may cause problems for the building as the common areas may start to deteriorate where maintenance remain unpaid b) if the leasehold owners have an issue with the managing agents you will need to have all the details