My Hampton Hill solicitor has uncovered a discrepancy between the surveyor’s assumptions in the valuation survey and what is in the legal papers for the property. My solicitor informs me that he needs to ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action appropriate?
Your 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.
As a novice what is the most important number one tip you can impart about purchase conveyancing in Hampton Hill?
Not many law firms shout this from the rooftops but conveyancing in Hampton Hill or throughout England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there exists plenty of opportunity for friction between you and other parties involved in the legal transfer of property. E.g., the seller, property agent and even potentially your mortgage company. Choosing a solicitor for your conveyancing in Hampton Hill an important selection as your conveyancer is your adviser, and is the SOLE person in the transaction whose responsibility is to act in your legal interests and to protect you.
We are witnessing a distinct increase in the "blame" culture- someone must be at fault for the process being so protracted. We recommend that you your first instinct should be to trust your solicitor ahead of the other players in the conveyancing process.
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to have this when buying a property in Hampton Hill? or Apparently there is an ancient law that means some owners of property living in a parish church boundary may be liable to pay for repairs to the chancel within the church. Is this a legitimate concern for conveyancing in Hampton Hill?
Unless a previous purchase of the property completed after 12 October 2013 you could expect lawyers handling conveyancing in Hampton Hill to remain encouraging a chancel search and or chancel repair liability policy.
I'm purchasing my first flat in Hampton Hill benefiting from help to buy. The sellers would not move on the price so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not to tell my solicitor about this deal as it could put at risk my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
We're novice buyers - agreed a price, but the selling agent informed us that the vendor will only move forward if we instruct the agent's recommended lawyers as they need an ‘expedited deal’. We would rather use a family solicitor with experience of conveyancing in Hampton Hill
We suspect that the seller is not behind this ultimatum. Should the seller desire ‘a quick sale', taking such a hostile approach to a genuine 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 finances arranged © you do not need to sell (d) you wish to move quickly (e)but you intend to use your preferred Hampton Hill conveyancing firm - not the ones that will give the estate agent a commission or hit his conveyancing figures demanded by senior management.
Can you offer any advice when it comes to choosing a Hampton Hill conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Hampton Hill conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Hampton Hill conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:
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What are the costs for lease extension work?
I have had difficulty in trying to purchase the freehold in Hampton Hill. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Hampton Hill conveyancing firm who can help.
An example of a Lease Extension case for a Hampton Hill premises is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case related to 1 flat. The unexpired residue of the current lease was 60.45 years.