Our Elmstead lawyer has spotted an inconsistency when comparing the surveyor’s assumptions in the valuation report and what is in the conveyancing documents. My solicitor has advised that he needs to ensure that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s stance correct?
Your solicitor 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 you.
I am purchasing a property and need a conveyancing solicitor in Elmstead who is on the Alliance & Leicester solicitor. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Alliance & Leicester in certain locations such as Elmstead. We dont recommend any particular firm.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in Elmstead I like with a park and transport links nearby, the downside is that it only has 52 remaining years left on the lease. There is not much else in Elmstead for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
I have been pointed in your direction by two or three local estate agents in Elmstead to select a conveyancer using your seach tool. Is there a financial inducement for Estate Agents to market your lawyers over alternative conveyancing organisations?
We don’t make any referral fee for directing people in our direction. We found it would be just too difficult to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Should I go with a Elmstead conveyancing practitioner in close proximity to the house I am hoping to buy? We have a good friend who can conduct the conveyancing however they are based 300kilometers drive away.
The primary upside of using a local Elmstead conveyancing firm is that you can pop in to execute documents, present your ID and apply pressure on them if necessary. Having local Elmstead know how is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and in the main were content that should trump using an unknown Elmstead conveyancing lawyer just because they are based in the area.