Our Clifton conveyancer has uncovered a difference between the assumptions in the valuation report and what is revealed within the conveyancing documents. My solicitor informs me that he is obliged to ensure that the lender is OK with this discrepancy and is content to go ahead. Is my lawyer’s approach right?
Your 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 both parties.
Various web forums that I have come across warn that are the main cause of delay in Clifton house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Clifton.
The estate agent has sent us the confirmation of our purchase of a new build flat in Clifton. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Clifton
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I opted to have a survey done on a house in Clifton before appointing solicitors. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some lenders will not issue a mortgage on this type of premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Clifton. Conveyancing will be smoother if you use a solicitor in Clifton especially if they are accustomed to such properties in Clifton.
As co-executor for the will of my uncle I am selling a property in Swansea but live in Clifton. My solicitor (who is 235 kilometers from merequires that I execute a stat dec ahead of completion. Could you suggest a conveyancing solicitor in Clifton who can attest and place their company stamp on the document?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are Clifton based
We are midway through buying a house in Clifton. Conveyancing solicitor has told us the property is "Leasehold". Does this adversely affect the salability of the house?
Clifton conveyancing does not normally involve leasehold houses. The main factor here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's almost the same as freehold, so it’s unlikely to impact the value significantly.
At the other end of the spectrum, if it's, say, 50 years it is bound to have a adverse impact on the saleability, and most likely wouldn't be mortgageable. The length of lease and ground rent will be specified in the lease provided to your property lawyer.