My Chapel En Le Frith solicitor has uncovered an inconsistency when comparing the information in the home valuation survey and what is revealed within the conveyancing documents. 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 solicitor’s course or action right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions 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 buying a new build flat in Chapel En Le Frith. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Chapel En Le Frith
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I have been on the look out for a ground for flat up to £195,000 and identified one near me in Chapel En Le Frith I like with open areas and station in the vicinity, however it only has 49 years unexpired on the lease. There is not much else in Chapel En Le Frith suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan that many years will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
How does the Landlord & Tenant Act 1954 impact my commercial property in Chapel En Le Frith and how can your lawyers assist?
The particular law that you refer to gives protection to commercial tenants, giving them the right to make a request to court for a renewal lease and remain in occupation when the lease comes to an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and help with commercial conveyancing in Chapel En Le Frith
Much to my surprise my conveyancing solicitor in Chapel En Le Frith has informed me that he requires identification documents asserting that this forms part of his requirements as a solicitor on the mortgage company Conveyancing panel. This is news to me - can I refuse?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the lender. This is not specific to conveyancing in Chapel En Le Frith