The Hotwells conveyancing firm handling our Hotwells conveyancing has identified a difference between the information in the valuation survey and what is in the legal papers for the property. My solicitor informs me that he must ensure that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s course or action appropriate?
Your conveyancer 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.
I am buying my first flat in Hotwells with the aid of help to buy. The builders refused to move on the amount so I negotiated £7000 of additionals instead. The house builders rep suggested that I not to tell my solicitor about the side-deal as it will put at risk my loan with Yorkshire Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Should I be suspicious that third parties that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a local Hotwells conveyancing company?
As with lots of service providers, often referrals from relatives can be extremely useful or valuable. Nevertheless there are lots of people with a vested interest in a conveyancing matter; estate agents, financial adviser and lenders may put forward solicitors to instruct. On occasion the solicitors might be known to one of the organisations as experts in their field, but sometimes there may be a commercial relationship behind the recommendation. You are free to choose your own conveyancer. Don't forget that most mortgage providers specify a panel list of solicitors you are obliged to use for the mortgage aspect of your home move.
I need to instruct a conveyancing lawyer in Hotwells for my home move. Is it possible to check a firm’s complaints history with the legal regulator?
Anyone can read published Solicitor Regulator Association (SRA) determinations resulting from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. For records Pre 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The regulator could monitor telephone calls for training requirements.
I have recently realised that I have Fifty years left on my flat in Hotwells. I need to extend my lease but my landlord is absent. What should I do?
If you meet the appropriate requirements, 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 lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to find the freeholder. On the whole an enquiry agent may be useful to conduct investigations and prepare a report to be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Hotwells.
I bought a leasehold flat in Hotwells, conveyancing formalities finalised November 2004. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Hotwells with a long lease are worth £190,000. The ground rent is £45 levied per year. The lease expires on 21st October 2081
With 62 years remaining on your lease we estimate the premium for your lease extension to span between £17,100 and £19,800 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.