The Ealing conveyancing firm handling our Ealing conveyancing has uncovered a discrepancy between the assumptions in the valuation survey and what is in the conveyancing documents. My lawyer has advised that he needs to ensure that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s course or action right?
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 both parties.
If you had a top tip for choosing a conveyancing solicitor in Ealing what would it be?
It would be unwise to be swayed by the cheapest Ealing conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
My bid for a property was accepted at auction in Ealing. Conveyancing is required. What happens now?
Now that you have exchanged you must retain a conveyancing lawyer soon as you will have a fast approaching a drop dead date to complete the conveyancing. Every auction property should have a corresponding legal pack. This will include most,if not all of the paperwork that your lawyer requires. If you have purchased leasehold premises the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to a leasehold property. You need to pass this on to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that your finances are in place to complete on the on the contractual date .
I'm in the throws of looking at houses in Ealing and I am about to put in an offer. Is it premature to have a solicitor in place? I intend to finance via a mortgage with Skipton.
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. As you are getting a mortgage with Skipton, make sure you remember to check that your lawyer is on the Skipton conveyancing panel.
Should my lawyer be asking questions regarding flooding during the conveyancing in Ealing.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Ealing. There are those who purchase a house in Ealing, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, but there are a various searches that can be carried out by the purchaser or by their conveyancers which can give them a better appreciation of the risks in Ealing. The standard information given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the seller to find out whether the property has suffered from flooding. If flooding has previously occurred and is not notified by the owner, then a buyer could commence a legal claim for losses resulting from an misleading response. The buyer’s lawyers may also conduct an environmental search. This will reveal whether there is a recorded flood risk. If so, further inquiries should be conducted.
five months have gone by since my purchase conveyancing in Ealing concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a ground for flat up to £305k and identified one round the corner in Ealing I like with open areas and transport links in the vicinity, however it's only got 51 remaining years left on the lease. I can't really find anything else in Ealing in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the shortness of the lease may be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
Last March I purchased a leasehold flat in Ealing. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee 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 inherited a ground flat in Ealing. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
Most certainly. We can put you in touch with a Ealing conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Ealing property is Flat 4 38 The Mall in April 2014. the Tribunal held that the premium payable for the lease extension to be £25,451 This case related to 1 flat. The unexpired residue of the current lease was 68.7 years.