The Saltash conveyancing firm handling our Saltash conveyancing has spotted a difference between the surveyor’s assumptions in the home valuation survey and what is in the conveyancing documents. My solicitor informs me that he is obliged to check that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s stance correct?
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.
What is the first thing I need to know regarding purchase conveyancing in Saltash?
Not many law firms shout this from the rooftops but conveyancing in Saltash and elsewhere in Cornwall is often a confrontational experience. Put another way, when it comes to conveyancing there is an abundance of room for conflict between you and other parties involved in the transaction. E.g., the seller, selling agent and sometimes your bank. Appointing a solicitor for your conveyancing in Saltash an important selection as your conveyancer is your adviser, and is the SOLE person in the process whose responsibility is to protect your best interests and to protect you.
On occasion a third party with a vested interest will try and sway you that you should follow their advice. As an example, the selling agent may claim to be assisting by claiming that your conveyancer is dragging his heels. Or your mortgage broker may advise you to do take action that is against your solicitors advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the Clydesdale Solicitor panel ahead of completing my conveyancing in Saltash?
First, this is very unlikely to happen. 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 for a fee.
Me and my brother own a semi-detached Edwardian house in Saltash. Conveyancing lawyer acted for me and Halifax. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Saltash and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing practitioner who completed the work.
In what way does the Landlord & Tenant Act 1954 affect my business premises in Saltash and how can your lawyers assist?
The particular law that you refer to provides security of tenure to business lessees, granting the a statutory right to apply to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act for protection and handle your commercial conveyancing in Saltash
I have recently realised that I have Fifty years left on my lease in Saltash. I am keen to get lease extension but my freeholder is missing. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to locate the lessor. In some cases an enquiry agent would be helpful to try and locate and to produce a report to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the application to the County Court covering Saltash.
I acquired a 2 bed flat in Saltash, conveyancing having been completed August 2005. Can you work out an approximate cost of a lease extension? Equivalent flats in Saltash with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ceases on 21st October 2076
With 53 years remaining on your lease we estimate the premium for your lease extension to range between £27,600 and £31,800 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.