Our Northampton lawyer has spotted a discrepancy between the surveyor’s assumptions in the home valuation survey and what is revealed within the title deeds. My lawyer says that he is obliged to ensure that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s approach right?
Your property lawyer 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.
How up to date is your search tool for Northampton conveyancing solicitors on the Nottingham conveyancing panel? Do Nottingham send you an updated list?
Northampton conveyancing firms themselves provide us confirmation that they are on the Nottingham conveyancing panel as opposed to being supplied with a list from Nottingham directly.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one close by in Northampton I like with amenity areas and transport links nearby, however it's only got 49 remaining years left on the lease. There is not much else in Northampton in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities 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 consult your conveyancing solicitor about this.
I need to instruct a conveyancing solicitor for leasehold conveyancing in Northampton. I have chance upon a site which appears to be the perfect offering If it is possible to get all this stuff done via email that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have just started marketing my 2 bed flat in Northampton. Conveyancing lawyers have not yet been instructed, but I have just had a yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal given that all rents and maintenance charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Northampton Conveyancing for Leasehold Flats - Sample of Queries before buying
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Plenty Northampton leasehold flats will have a service charge for maintenance of the block levied on behalf of the landlord. Where you acquire the flat you will have to pay this amount, usually in instalments throughout the year. This could be anything from several hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all likelihood there will be a ground rent to be met yearly, this is usually not a significant figure, say approximately £25-£75 but you need to enquire it because sometimes it can be many hundreds of pounds. How much is the ground rent and service charge? Where a Northampton lease has no more than 80 years it will have adverse implications on the marketability of the apartment. It is worth checking with your mortgage company that they are willing to go ahead with the loan given the lease term. A short lease means that you will most likely have to extend the lease at some point and it is worth discovering what this will be. Remember, in most cases you would be required to have owned the property for 24 months before you are entitled to exercise a lease extension.
I am searching for Northampton conveyancing quotes online. Can I be sure that all the Northampton law firms that are listed on your directory are on the lender conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have assured us via an online form that they are on the bank panel and agreed to advise us to take down their listing in the event of removal off of the lender panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific Northampton firm being on the lender conveyancing panel is not accurate.