My wife and I are looking to purchase a house in Fawley and have appointed a Fawley conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Coventry Building Society have this afternoon contacted us to advise us that there is now an issue as our Fawley lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Fawley lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
The Fawley conveyancing firm handling our Fawley conveyancing has discovered a discrepancy when comparing the surveyor’s assumptions in the valuation survey and what is revealed within the title deeds. My solicitor says that he is duty bound to check that the lender is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action legitimate?
Your conveyancer 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 you.
I require fast conveyancing in Fawley as I am faced with a deadline to sign on the dotted line within 2 weeks. A mortgage is not required. Can I escape the need for conveyancing searches to save money and time?
If.Given you are are a cash purchaser you are at liberty not to have searches carried out although no solicitor would advise that you don't. Drawing on our experience of conveyancing in Fawley the following are instances of issues that can arise and adversely affect future mortgageability: Enforcement Notices, Outstanding Charges, Outstanding Grants, Road Schemes,...
3 months have elapsed since my purchase conveyancing in Fawley completed. I have checked the Land Registry website which shows that I paid £200,000 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 residence 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 leasehold apartment up to £245,000 and found one round the corner in Fawley I like with open areas and transport links in the vicinity, however it only has 61 years on the lease. There is not much else in Fawley in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I am a sole trader wishing to lease a unit on a shopping parade. Can you recommend solicitors offering fixed fees for commercial conveyancing in Fawley for less than £2000?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Fawley, including the disposal and acquisition of businesses as well as simply premises. If you are looking to purchase or dispose of a shop, pub, restaurant, office, retail premises or a complete business we will find you the right firm. As for the costs this will depend on the structure and terms of the deal. Please provide us with your contact information or call so as to enable us to furnish you with comprehensive commercial conveyancing quote.