My Arlesey solicitor has uncovered an inconsistency between the information in the valuation survey and what is revealed within the conveyancing documents. My lawyer says that he must ensure that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s course or action right?
Your lawyer must comply with the UK Finance Lenders’ Handbook requirements 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 wanted to use a property lawyer in Arlesey for our house move. Our financial adviser has since advised us that our bank Britannia won't deal with them. Surely this is unfair competition?
A decade ago most lenders had an appetite for risk which was higher than today. Almost all Arlesey conveyancing firms would have been on most mortgage company panels. The financial services regulator in 2010 carried out a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more data from law firms about their operations and their employees as well as establishing certain criteria such a completing on a minimum volume of conveyancing. Many Arlesey conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Arlesey is one of the many locations where the lawyers we list are are approved Britannia.
I have a 4 bedroom Edwardian property in Arlesey. Conveyancing lawyer acted for me and Barnsley Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold under the exact same property. I'd like to know for sure, how can I find out??
You need to review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Arlesey 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 mortgage companies. You can also question the situation with the conveyancing practitioner who carried out the work.
I am selling my property. My former conveyancers has retired. I am in need of a recommendation of a conveyancing firm. I happen to live in Arlesey if that makes things easier.
You should use our search tool to help you choose a solicitor for your conveyancing in Arlesey. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.
My wife and I purchased a leasehold flat in Arlesey. Conveyancing and Virgin Money mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Arlesey who previously acted has long since retired. Do I pay?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Arlesey conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Arlesey Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
If a Arlesey lease has fewer than 80 years it will impact the marketability of the property. It is worth checking with your lender that they are willing to lend given the lease term. A short lease means that you will almost definitely have to extend the lease sooner rather than later and it is worth discovering how much this will be. Remember, in most cases you will be be obliged to have owned the property for 24 months before you are legally able to exercise a lease extension. You should want to discover as much as possible about the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to practical issues like the tidiness of the common parts. You should not be afraid to ask prospective neighbours what they think of them. Finally, be sure you discover the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what you get for your money. The majority of Arlesey leasehold flats will be liable to pay a service charge for maintenance of the block levied on behalf of the landlord. Where you acquire the flat you will have to pay this liability, normally quarterly throughout the year. This can vary from a couple of hundred pounds to thousands of pounds for buildings with lifts and large communal areas. In all probability there will be a ground rent for you to pay annual, normally this is not a exorbitant amount, say around £50-£100 but you need to enquire it because occasionally it can be many hundreds of pounds.