My Harmondsworth solicitor has identified an inconsistency between the surveyor’s assumptions in the home valuation survey and what is revealed within the legal papers for the property. My solicitor informs me that he is duty bound to check that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s course or action right?
Your property lawyer 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.
Will conveyancers request money up-front for conveyancing in Harmondsworth?
Where you are retaining lawyers for conveyancing in Harmondsworth your lawyer will ask you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the down payment is as part of the total price then this should be needed immediately in advance of exchange of contracts. The final balance that is needed should be sent to your lawyer shortly before completion.
When it comes to lenders such as Nationwide, do Harmondsworth lawyers incur an annual charge to be on the conveyancing panel?
We are unaware of any bank fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
Last month we had a mortgage agreed in principle with RBS. Harmondsworth conveyancing practitioners were selected. How long does it take for RBS to send the offer to the lawyer?
There is no definitive answer here. Have RBS done the survey? Have you informed RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Completion of my purchase has taken place for my property in Harmondsworth. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I own a 4 bedroom Victorian house in Harmondsworth. Conveyancing practitioner represented me and Britannia. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Harmondsworth and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing solicitor who conducted the purchase.
I am looking for a leasehold apartment up to £195,000 and identified one close by in Harmondsworth I like with open areas and railway links in the vicinity, however it's only got 52 years on the lease. There is not much else in Harmondsworth for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.