Our Coombe lawyer has identified a discrepancy between the surveyor’s assumptions in the valuation survey and what is in the legal papers for the property. My solicitor has advised that he needs to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my lawyer’s course or action right?
Your solicitor 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.
I own a freehold house in Coombe but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Coombe and has limited impact for conveyancing in Coombe but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Have just purchased a probate house at auction in Coombe. Conveyancing is required. What is next?
Now that you have to in every practical sense signed on the dotted line you now have to appoint a conveyancing practitioner as a matter of priority as you are faced with a fast approaching deadline in which to complete the purchase. All auction property will ordinarily have a bespoke auction pack. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the legal pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You must pass this on to the lawyer working for you as soon as possible. Do make sure that that you have the requisite funding in place to complete the transaction on the set completion date.
I am planning to move property in August. Will my conveyancing solicitor communicate with the removal company on the completion day. Incidentally, can you put forward a removal company in Coombe. Conveyancing solicitor was found before I stumbled across your website.
On the day of completion you can collect the house keys from your property agent however this should only occur after the vendors solicitors advise the agent that the monies to complete are in and the keys can be passed over. After that you will need to inform the removal company that they can start moving you in. As a matter of policy we do not suggest a specific removal organisation but can help you find a conveyancing in Coombe or a lawyer with expertise in conveyancing in Coombe.
I can not fathom if my bank requires a lease extension. I have called my Coombe building society branch on a couple of occasions and was told it wasn't an issue and they will lend. My Coombe conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your conveyancing practitioner has to follow the Council of Mortgage Lenders’ Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Coombe is where the house is located. Can you offer any advice?
Flying freeholds in Coombe are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Coombe you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Coombe may ascertain 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've recently bought a leasehold property in Coombe. Do I have any liability for service charges relating to a period prior to my ownership?
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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Coombe conveyancing firm to act on my behalf?
Most definitely. We can put you in touch with a Coombe conveyancing firm who can help.
An example of a Lease Extension case for a Coombe residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case affected 1 flat.
I am purchasing a maisonette with all finances in place. I have provided conveyancer with 2 distinct evidence of photo ID, bank statement, numerous utility bills. Now he wants a copy from a probate lawyer stating that the funds are legitimate and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Coombe conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.