The Chase Cross conveyancing firm handling our Chase Cross conveyancing has identified a discrepancy between the assumptions in the valuation survey and what is in the conveyancing documents. My solicitor has advised that he is duty bound to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my solicitor’s stance legitimate?
Your 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 both parties.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to appoint their panel solicitor as I would prefer to appoint a Chase Cross based conveyancing firm?
Do check but the chances are that allocate you one of their panel solicitors should you take up the "fee-free" incentive. Call the bank to check if they offer you a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Chase Cross.
I have paid off my mortgage with . I assume I don't need a Chase Cross on the panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the mortgage from the register. , and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where has sent the Land Registry the discharge electronically, and
- has instructed the Land Registry to do so
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Chase Cross bank branch on various occasions and was told it does not impact the mortgage offer and they will lend. My Chase Cross conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Provided that the is on the lender panel, she or he must follow the Council of Mortgage Lenders’ Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
About to purchase flat in Chase Cross. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Chase Cross is on the conveyancing panel.
The deeds to my home are lost. The conveyancers who handled the conveyancing in Chase Cross 4 years ago have long since closed. Will I be able to sell the house?
Gone are the days when you need to hold title official documentation to establish that you are the registered proprietor of land or premises, as the Land Registry hold details of all registered land or property electronically.
I only have Fifty years left on my flat in Chase Cross. I now want to get lease extension but my landlord is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to find the freeholder. For most situations an enquiry agent would be useful to try and locate and to produce an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the application to the County Court overseeing Chase Cross.
Chase Cross Leasehold Conveyancing - Examples of Questions you should consider before buying
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How is the lease structured?
The prefered form of lease arrangement is if the freehold title is owned by the leaseholders. In this scenario the lessees have control and notwithstanding that a managing agent is usually employed where the building is bigger than a house conversion, the managing agent is directed by the tenants.
Make sure you enquire if there are any onerous restrictions in the lease. For example it is very common in Chase Cross leases that pets are not permitted in in a block in Chase Cross. If you like the flatin Chase Cross however your cat can’t live with you then you have a very difficult compromise.