My Morpeth solicitor has uncovered a difference when comparing the surveyor’s assumptions in the home valuation survey and what is revealed within the legal papers for the property. My solicitor has advised that he is obliged to ensure that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s course or action 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.
We are purchasing a property in Morpeth. I might seem paranoid but how we can trust a solicitor? On completion day we have to put money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
After weeks of negotiation I have agreed a price on a house in Morpeth. My financial adviser recommended their conveyancers. I paid an upfront payment of £175. A few days later, the solicitor called me to say that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
HSBC have agreed my home loan in principle, my offer on a apartment in Morpeth has been agreed to, what are the next steps?
Your estate agent will need to know who your solicitors are (ensure that the lawyers are on the bank’s approved list). Telephone HSBC or your financial adviser and complete any appropriate forms. HSBC will appoint a valuer who will get in contact with the selling agent or vendor to arrange a slot for the valuation to take place. Once conducted (assuming no problems) it takes on average a week to get a mortgage offer. HSBC will send the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Morpeth.
It has been three months following my purchase conveyancing in Morpeth took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. 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.
About to purchase a new build flat in Morpeth. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Morpeth
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Morpeth is the location of the property. What do you suggest?
Flying freeholds in Morpeth are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Morpeth you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Morpeth may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Looking forward to exchange soon on a basement flat in Morpeth. Conveyancing lawyers assured me that they report fully tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Morpeth should include some of the following:
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The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Repair and maintenance of the flat You should be advised what is to be regarded as a Nuisance as far as the lease is concerned Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? if lease has a provision for a sinking fund for major repairs?
Leasehold Conveyancing in Morpeth - Sample of Questions you should consider before buying
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Does the lease contain onerous restrictions? How much is the annual maintenance fee and ground rent? The answer will be helpful as a) areas may cause problems for the block as the common areas may begin to deteriorate if maintenance remain unpaid b) if the leasehold owners have an issue with the running of the building you will wish to have all the details