My Sunningdale conveyancer has identified a discrepancy when comparing the information in the home valuation report and what is revealed within the legal papers for the property. My solicitor has advised 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 course or action appropriate?
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 you.
We're in Sunningdale, FTBs purchasing with a mortgage (lender is Nationwide , and our solicitor is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Me and my brother have a semi-detached Victorian property in Sunningdale. Conveyancing solicitor represented me and Barclays Direct. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Sunningdale and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing practitioner who conducted the purchase.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a quick, no chain conveyancing. Sunningdale is the location of the property. Can you offer any advice?
Flying freeholds in Sunningdale are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Sunningdale you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sunningdale may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My father-in-law has suggested that I instruct his lawyers for conveyancing in Sunningdale. Should I use them?
There are no two ways about it the best way to find a conveyancing practitioner is to seek referrals from friends or relatives who have actually previously instructed the solicitor you're contemplating using.
Frank (my husband) and I may need to let out our Sunningdale ground floor flat for a while due to a career opportunity. We used a Sunningdale conveyancing firm in 2004 but they have since shut and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease governs relations between the freeholder and you the leaseholder; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Sunningdale do not prevent subletting altogether – such a clause would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
I invested in buying a 2 bed flat in Sunningdale, conveyancing formalities finalised December 2001. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Sunningdale with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £45 yearly. The lease finishes on 21st October 2083
With just 62 years remaining on your lease we estimate the price of your lease extension to span between £17,100 and £19,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.