The Portslade conveyancing firm handling our Portslade conveyancing has uncovered an inconsistency when comparing the information in the valuation report and what is in the conveyancing documents. My lawyer says that he is obliged to check that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s stance appropriate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions 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.
We are selling our apartment in Portslade. Does my lawyer have to be required to be on the Bank of Ireland conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Bank of Ireland conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently in recent years.
It has been five months following my purchase conveyancing in Portslade took place. I have checked the Land Registry website which shows that I paid £150,000 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 asset 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.
Due to the input of my in-laws I had a survey completed on a property in Portslade ahead of retaining lawyers. I have been informed that there is a flying freehold element to the property. The surveyor advised that some mortgage companies will not give a mortgage on this type of property.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Portslade. Conveyancing may be slightly more expensive based on your lender's requirements.
How simple is it to transfer to a new solicitor as I need to find one who is on the Barclays Direct conveyancing panel. I was using a high street conveyancing solicitor in Portslade round the corner but the firm is not approved by Barclays Direct
We will our best to assist in finding you a conveyancing solicitor in Portslade on the Barclays Direct panel. Please note that the conveyancers that we work with do not pay us commission if you instruct them and are regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Portslade. Using the find a conveyancing solicitor tool on this page, you can scrutinise charges for conveyancing solicitors in Portslade and beyond.
Looking forward to complete next month on a ground floor flat in Portslade. Conveyancing lawyers assured me that they report fully on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Portslade should include some of the following:
The length of the lease term. You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark What options are available to the landlord where you have violated the provisions of the lease? Are pets allowed in the flat? Does the lease prevent you from subletting the flat, or having a home office for business Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
Portslade Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
The best form of lease arrangement is a share of the freehold. In this arrangement the lessees enjoy being in charge if their destiny and although a managing agent is usually employed if the building is larger than a house conversion, the managing agent employed by the leaseholders. What restrictions exist in the Portslade Lease? What is the maintenance charge and ground rent on the property?