The Moss Nook conveyancing firm handling our Moss Nook conveyancing has discovered an inconsistency when comparing the assumptions in the valuation report and what is revealed within the conveyancing documents. My lawyer says that he needs to check that the bank is happy with this discrepancy and is content to go ahead. Is my solicitor’s stance legitimate?
Your solicitor 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 you.
What happens if my solicitor is suspended from the Kent Reliance Solicitor panel ahead of completing my conveyancing in Moss Nook?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I'm buying a new build house in Moss Nook benefiting from help to buy. The developers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent advised me not reveal to my lawyer about the extras as it may affect my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
What does commercial conveyancing in Moss Nook cover?
Moss Nook conveyancing for business premises incorporates a broad array of guidance, supplied by qualified solicitors, relating to business property. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
My cousin has suggested that I use his conveyancers in Moss Nook. Do I follow his recommendation?
There are no two ways about it the ideal way to choose a conveyancing lawyer is to seek feedback from friends or family who have experience in using the solicitor that you are considering.
I own a leasehold house in Moss Nook. Conveyancing and TSB mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Moss Nook who previously acted has now retired. What should I do?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Moss Nook conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a garden flat in Moss Nook, conveyancing having been completed in 2002. Can you work out an approximate cost of a lease extension? Similar flats in Moss Nook with a long lease are worth £191,000. The ground rent is £55 invoiced annually. The lease ends on 21st October 2078
With just 53 years remaining on your lease the likely cost is going to span between £27,600 and £31,800 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.