My Lanchester solicitor has uncovered a difference between the information in the home valuation survey and what is in the title deeds. My solicitor says that he needs to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach right?
Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications 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.
Our lender has suggested solicitors on their panel based in Lanchester but I would rather choose a conveyancing lawyer in Lanchester or nearer to where I live. Are you able to assist?
It is by no means the case that all Lanchester conveyancing firms are on all banks conveyancing panel. Use our search tool to find a Lanchester conveyancing conveyancer on the on the lender panel.
Will our lawyer be raising questions regarding flooding during the conveyancing in Lanchester.
Flooding is a growing risk for lawyers carrying out conveyancing in Lanchester. There are those who buy a house in Lanchester, fully aware that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, but there are a number of searches that can be undertaken by the purchaser or by their lawyers which will figure out the risks in Lanchester. The conventional set of completed inquiry forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the vendor to discover whether the property has suffered from flooding. In the event that flooding has previously occurred and is not notified by the seller, then a purchaser could issue a claim for damages resulting from an incorrect response. A purchaser’s lawyers may also carry out an environmental report. This should reveal if there is any known flood risk. If so, more detailed inquiries will need to be initiated.
I have been on the look out for a leasehold apartment up to £195,000 and found one round the corner in Lanchester I like with amenity areas and railway links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Lanchester suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
We're FTB’s - agreed a price, but the estate agent advised that the vendor will only go ahead if we use their preferred conveyancers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a family solicitor who is familiar with conveyancing in Lanchester
It is improbable the owners are behind this. Should the vendor desire ‘a quick sale', turning down a serious purchaser is going to damage their objectives. Contact the sellers directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you intend to proceed fast (e)however you intend to use your own,trusted Lanchester conveyancing lawyers - rather thanthose that will earn their estate agent a introducer fee or achieve conveyancing thresholds demanded by head office.