Our Timperley solicitor has discovered an inconsistency between the information in the valuation survey and what is revealed within the title deeds. My solicitor says that he is duty bound to ensure that the bank is OK with this discrepancy and is content to go ahead. Is my conveyancer’s stance correct?
Your 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.
I am remortgaging my house in Timperley, does my lawyer need to be on the Co-operative Solicitor panel?
In theory, you could use a solicitor that is not on the Co-operative conveyancing panel, but Co-operative would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I'm purchasing my first flat in Timperley benefiting from help to buy. The sellers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not disclose to my lawyer about this extras as it may put at risk my loan with Lloyds TSB Bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Timperley is where the house is located. Can you offer any advice?
Flying freeholds in Timperley are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Timperley 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 Timperley may ascertain 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.
Taking into account that I am about to spend hundreds of thousands of pounds on 3 bedroom house in Timperley I wish to have a conversation with the lawyer concerning thehome move in advance of appointing the firm. Can this be arranged?
Absolutely - it is our preference to talk to you we do not take any clients on without you speaking to the lawyer due to be carrying out your conveyancing in Timperley.There is no ‘factory style conveyancing’ - each client is an important individual, not a matter number. The solicitors that we put you in touch with believe that the fees you are quoted for your conveyancing in Timperley should be the amount on the final invoice that you end up paying.
All being well we will complete the disposal of our £275,000 garden flat in Timperley on Thursday in a week. The freeholder has quoted £324 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Timperley?
For most leasehold sales in Timperley conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Completing pre-contract questions
Where consent is required before sale in Timperley
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I invested in buying a 1st floor flat in Timperley, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Timperley with an extended lease are worth £186,000. The ground rent is £55 levied per year. The lease ceases on 21st October 2076
With only 52 years left to run we estimate the price of your lease extension to range between £29,500 and £34,000 as well as 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 supply the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.