Our Arnos Grove conveyancer has uncovered an inconsistency when comparing the assumptions in the home valuation report and what is in the legal papers for the property. My lawyer has advised that he needs to ensure that the bank 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 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.
How does conveyancing in Arnos Grove differ for newly converted properties?
Most buyers of new build property in Arnos Grove approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Arnos Grove tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Arnos Grove or who has acted in the same development.
I decided to have a survey completed on a house in Arnos Grove in advance of retaining lawyers. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some banks tend not issue a mortgage on such a house.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Arnos Grove. Conveyancing may be slightly more expensive based on your lender's requirements.
Given that I am about to part with 450k on a property in Arnos Grove I wish to talk to a conveyancer concerning theconveyancing prior to 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 liaising with the solicitor due to be carrying out your conveyancing in Arnos Grove.There is no ‘factory style conveyancing’ - every client is an important individual, not a case number. The practices that we put you in touch with believe that the figure you are provided with for residential conveyancing in Arnos Grove should be the amount on the final invoice that you end up paying.
I happen to be an executor of my recently deceased mum’s Will, with a bungalow in Arnos Grove which will be sold. The bungalow is unregistered at the Land Registry and I'm told that some buyers solicitors will insist that it is in place before they'll move forward. What's the mechanism for this?
In the circumstances you refer to it seems prudent to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.