Our Eaglescliffe lawyer has spotted a difference between the information in the valuation report and what is revealed within the legal papers for the property. My solicitor informs me that he is duty bound to ensure that the lender is happy with this discrepancy and is still content to lend. Is my conveyancer’s course or action legitimate?
Your conveyancer 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.
We're in Eaglescliffe, First time buyers buying with a mortgage (lender is Aldermore , and our solicitor is on the Aldermore conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Aldermore conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I bought my flat on 4 July and the transaction details is not yet on the land registry website. Should I be concerned? My conveyancing solicitor in Eaglescliffe expressed confidence that it will be formalised in a couple of weeks. Are properties in Eaglescliffe uniquely lengthy to register?
As far as conveyancing in Eaglescliffe is concerned, registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timescales can differ subject to who lodges the application, whether there are errors and whether the Land registry have to notify any other persons or bodies. As of today in the region of three quarters of submission are completed in less than three weeks but some can be subject to protracted delays. Historically registration takes place once the buyer has moved in to the property so post completion formalities is not always primary concern but if there is a degree of urgency associated with the registration then you or your conveyancer could communicate with the Registry to express the reasoning for an expedited registration.
What tools are available to identify a Eaglescliffe solicitor on the Skipton Building Society conveyancing panel? I drive a motor bike and am prepared to travel upto 10miles to meet the lawyer.
Feel free to make use of the facility on this page. Please select a bank and your location and you will see a number of Eaglescliffe conveyancing lawyers located nearest you. We have detailed some Eaglescliffe conveyancing firms towards the end of this page and you can telephone them to verify if they are on the Skipton Building Society member panel
My husband and I are new to the buying process - agreed a price, yet the estate agent has warned us that the owners will only issue a contract if we appoint their recommended lawyers as they need a ‘quick sale’. We would rather use a family solicitor accustomed to conveyancing in Eaglescliffe
We suspect that the seller is unaware of this ultimatum. If they desire ‘a quick sale', turning down a serious purchaser is not the way to achieve this. Contact the sellers directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)but you intend to appoint your own,trusted Eaglescliffe conveyancing lawyers - rather thanthose that will give the negotiator at the agency a referral fee or hit his conveyancing targets set by senior management.
I work for a reputable estate agency in Eaglescliffe where we see a few flat sales put at risk as a result of short leases. I have received conflicting advice from local Eaglescliffe conveyancing firms. Please can you clarify whether the owner of a flat can initiate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I inherited a leasehold flat in Eaglescliffe, conveyancing having been completed 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Eaglescliffe with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £45 per annum. The lease expires on 21st October 2088
With only 65 years unexpired we estimate the price of your lease extension to range between £13,300 and £15,400 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.