The High Peak conveyancing firm handling our High Peak conveyancing has discovered an inconsistency between the information in the home valuation report and what is revealed within the legal papers for the property. My lawyer informs me that he must ensure that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action correct?
Your solicitor must comply with the UK Finance Lenders’ Handbook conditions 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.
Why do I have to pay up front when it comes to conveyancing in High Peak?
Where you are retaining lawyers for conveyancing in High Peak your lawyer will ask you to provide them with funds to cover the search fees. Normally this is requested to cover the fees of the Local Authority Search. When the deposit is payable against the sale price then this will be required immediately prior to exchange of contracts. Any further balance that is due will be payable a few days ahead of the day of completion.
My relative suggested that where I am buying in High Peak I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard High Peak conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about High Peak around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data about High Peak.
Due to the advice of my in-laws I had a survey completed on a property in High Peak ahead of instructing lawyers. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some banks may refuse to grant a loan on such a home.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in High Peak. Conveyancing may be slightly more expensive based on your lender's requirements.
Back In 2006, I bought a leasehold flat in High Peak. Conveyancing and Chelsea Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in High Peak who previously acted has now retired. What should I do?
First make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a High Peak conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I inherited a 1st floor flat in High Peak, conveyancing formalities finalised in 2001. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in High Peak with a long lease are worth £179,000. The ground rent is £65 levied per year. The lease ceases on 21st October 2082
With just 57 years remaining on your lease we estimate the price of your lease extension to be between £26,600 and £30,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
My partner and I have had DIP from Leeds Building Society who indicated that they will loan up to £400k. When do I need to instruct a solicitor for conveyancing? High Peak is where we are .
You can instruct a conveyancing practitioner now requesting that they create a file for you. This will kickstart: 1) the selling agent to send out the Sales Memorandum to all parties 2) the seller’s property lawyer to send out the draft paperwork. However, do not instruct your conveyancer to order searches until you receive your valuation report via Leeds Building Society and you are willing to proceed.