The Hanham conveyancing firm handling our Hanham conveyancing has identified a discrepancy when comparing the information in the home valuation survey and what is revealed within the conveyancing documents. My lawyer informs me that he needs to check that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s course or action appropriate?
Your conveyancing practitioner 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.
I purchased a freehold residence in Hanham but still pay rent, why is this and what is this?
It is rare for properties in Hanham and has limited impact for conveyancing in Hanham but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
Can you clarify what the consequences are if my solicitor is removed from the Leeds Building Society Solicitor panel ahead of completing my conveyancing in Hanham?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
How does conveyancing in Hanham differ for new build properties?
Most buyers of new build premises in Hanham come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is finished. This is because house builders in Hanham usually purchase the site, 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 property lawyers 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 accustomed to new build conveyancing in Hanham or who has acted in the same development.
My husband and I are 18 days into a freehold purchase having been recommend to conveyancers by the high street agent to carry out the conveyancing in Hanham. I am not happy. Can you help me find new lawyers?
They would need to be very poor in order to consider diss instructing them. Has your mortgage been generated? If so you will need to inform them of the new solicitor and have the loan are issued to the new lawyers. Your conveyancer needs to be on the mortgage company panel to avoid supplemental expenses and delays. So that should be your starting point. Our search tool should assist you in finding a bank approved lawyer for your home move in Hanham