My Kempston solicitor has uncovered an inconsistency when comparing the assumptions in the valuation report and what is revealed within the title deeds. My lawyer says that he must ensure that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s approach right?
Your conveyancing practitioner 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 both parties.
My wife and I have recently appointed a conveyancing solicitor in Kempston. I need to find out whether they are on the Godiva Mortgages Ltd approved list of lawyers. Can you help?
The first thing you should do is e-mail your lawyer and enquire if they are on the lender panel. Alternatively please get in touch with Godiva Mortgages Ltd who may be able to confirm.
Are there restrictive covenants that are commonly identified during conveyancing in Kempston?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Kempston. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Kempston differ for newly converted properties?
Most buyers of new build premises in Kempston come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is constructed. This is because house builders in Kempston tend to purchase 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 conveyancers 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 Kempston or who has acted in the same development.
I have been on the look out for a flat up to £305k and identified one round the corner in Kempston I like with open areas and station nearby, however it only has 61 remaining years left on the lease. There is not much else in Kempston in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you require a home loan the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you could request that they 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 lawyer concerning this matter.
Is it necessary during the course of the conveyancing process to pop into the offices of the lender conveyancing panel solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Kempston so that I can pop in to their offices if necessary.
Most conveyancing panel lawyers for the bank undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. YOu dont have to use a conveyancing solicitor in Kempston. it would nevertheless be wise to check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.