The St Pancras conveyancing firm handling our St Pancras conveyancing has spotted an inconsistency when comparing the assumptions in the home valuation survey and what is revealed within the legal papers for the property. My lawyer informs me that he is duty bound to ensure that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s stance legitimate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions 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.
Finally the sale completed on my house in St Pancras last August yet the purchaser is calling every few hours to moan that their solicitor needs to hear from mysolicitor. What should my lawyer have done now that I have sold?
Following your house sale your lawyer is duty bound to send the transfer deeds and all supplemental paperwork to the buyer’s lawyers. Where appropriate, your lawyer should also evidence that the home loan has been discharged to the purchasers lawyers. There are no post completion tasks unique to conveyancing in St Pancras.
Will my lawyer be raising questions regarding flooding during the conveyancing in St Pancras.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in St Pancras. Some people will buy a property in St Pancras, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, but there are a numerous searches that can be carried out by the buyer or by their lawyers which should give them a better appreciation of the risks in St Pancras. The standard property information forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the vendor to determine if the property has suffered from flooding. If the premises has been flooded in past and is not notified by the owner, then a buyer may commence a compensation claim as a result of such an inaccurate response. A purchaser’s conveyancers will also conduct an environmental search. This will indicate if there is a recorded flood risk. If so, further inquiries will need to be made.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one round the corner in St Pancras I like with amenity areas and station nearby, however it's only got 49 remaining years left on the lease. There is not much else in St Pancras suitable, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the shortness of the lease may be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you can ask them to start the process of the extension 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 speak to your conveyancing solicitor regarding this.
Is it best to appoint a St Pancras conveyancing lawyer based in the area that I am hoping to buy? An old friend can conduct the conveyancing however they are based approximately 350miles drive away.
The benefit of a high street St Pancras conveyancing practice is that you can drop in to sign paperwork, present your ID and pester them where appropriate. They will also have local insight which is a benefit. That being said it's more important to get someone that will do a good and efficient job. If you know people who used your friend and they were impressed that should trump using an unknown St Pancras conveyancing solicitor just because they are St Pancras based.
I am looking to buy a property and need a conveyancing solicitor in St Pancras who is on the mortgage company conveyancing panel. Can you recommend a St Pancras or local St Pancras conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the bank who carry out conveyancing in St Pancras. We dont recommend any particular firm.