My lawyer has identified a defect with the lease for the property we are purchasing in Godalming. The other side have suggested title insurance as a solution. We are content with insurance and will pay for it. Our conveyancing practitioner has advised that he must be satisfied that the lender is willing to move forward with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
I can see plenty of here regarding conveyancing in Godalming but can you isolate your top tip for choosing the right conveyancer in Godalming
Do not opt for the lowest Godalming conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We are getting a further advance on our home loan from Nationwide as we wish to carry out alterations to our house in Godalming. Are we obliged to select a high street Godalming solicitor on the Nationwide conveyancing panel to handle the paperwork?
Nationwide do not ordinarily appoint a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide conveyancing panel.
Our offer on a detached house in Godalming has been agreed to, the vendors do however have a dependent purchase. The vendors have offered on on an apartment, but it’s not been accepted yet, and are looking at other properties in the pipeline. I have instructed a high street conveyancing solicitor in Godalming. What should be my next step? When do I get the mortgage application with Nationwide started?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of one thousand pounds, then valuation, Godalming conveyancing search charges, etc). First, you must check that your lawyer is on the Nationwide conveyancing panel. As to the subsequent stages this very much dictated by the circumstances of your case, motivation for the property and on the state of the market. In a rising market many purchasers will apply for the mortgage with Nationwide and pay for the valuation and only if it was satisfactory would they pay their conveyancer to proceed with searches.
I need some fast conveyancing in Godalming as I have a deadline to exchange contracts within one month. Fortunately I do not need a mortgage. Can I decline from having conveyancing searches to save money and time?
If.Given you are are a cash buyer you have the choice not to have searches conducted although no conveyancer would suggest that you don't. With lots of history conveyancing in Godalming the following are examples of issues that can show up and adversely affect market value: Refused Planning Applications, Overdue Fees, Overdue Grants, Unadopted Roads,...
I am looking into buying my first house which is in Godalming and I am already nervous. I couldn't find anything specific about Godalming. Conveyancing will be needed in due course but do you know about the Godalming area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Godalming. In the meantime here are some basic statistics that we found
My wife and I purchased a leasehold house in Godalming. Conveyancing and Godiva Mortgages Ltd mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Godalming who acted for me is not around. Do I pay?
First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Godalming conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a split level flat in Godalming, conveyancing was carried out in 1998. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Godalming with a long lease are worth £179,000. The average or mid-range amount of ground rent is £65 per annum. The lease expires on 21st October 2076
With only 57 years remaining on your lease we estimate the price of your lease extension to span between £26,600 and £30,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.