The Goodwick conveyancing firm handling our Goodwick conveyancing has discovered a discrepancy when comparing the information in the valuation report and what is in the title deeds. My lawyer informs me that he is obliged to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach right?
Your lawyer 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 purchased a freehold property in Goodwick but still pay rent, why is this and what is this?
It is rare for properties in Goodwick and has limited impact for conveyancing in Goodwick 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
It has been 2 months following my purchase conveyancing in Goodwick completed. I have checked the Land Registry site 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.
How does conveyancing in Goodwick differ for newly converted properties?
Most buyers of new build or newly converted property in Goodwick come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Goodwick tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Goodwick or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a property in Goodwick before appointing conveyancers. I have been told that there is a flying freehold element to the house. The surveyor has said that some banks may refuse to issue a loan on a flying freehold premises.
It depends who your proposed lender is. Santander has different instructions from Halifax. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Goodwick. Conveyancing will be smoother if you use a solicitor in Goodwick especially if they are accustomed to such properties in Goodwick.
My husband and I are four weeks into a freehold purchase having been recommend to solicitors by the estate agent to perform conveyancing in Goodwick. We are not happy. Can you help me find new lawyers?
A lawyer would have to be very poor in order to consider diss instructing them. Has the loan offer been sent? In the event that it has you need to make them aware of the replacement conveyancer and ensure the mortgage documents are re-issued. The solicitor ideally needs to be on the mortgage company panel to avoid escalating fees and delays. That should be your starting point. The find a solicitor tool can assist you in finding a bank approved solicitor for your conveyancing in Goodwick