The Lynton conveyancing firm handling our Lynton conveyancing has spotted a difference between the information in the home valuation survey and what is revealed within the conveyancing documents. My lawyer has advised that he is obliged to ensure that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s course or action appropriate?
Your property lawyer 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.
We are purchasing a property and require a conveyancing solicitor in Lynton who is on the Yorkshire BS solicitor panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Yorkshire BS . We don't recommend any particular firms conducting conveyancing in Lynton.
Should my lawyer be asking questions regarding flooding as part of the conveyancing in Lynton.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Lynton. There are those who buy a house in Lynton, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Conveyancers are not best placed to offer advice on flood risk, but there are a various checks that may be carried out by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Lynton. The conventional set of information supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the owner to discover if the premises has suffered from flooding. If the premises has been flooded in past which is not revealed by the vendor, then a buyer could bring a compensation claim stemming from an inaccurate response. A purchaser’s lawyers should also conduct an enviro report. This should indicate if there is a recorded flood risk. If so, additional investigations will need to be carried out.
It has been 2 months since my purchase conveyancing in Lynton took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a leasehold apartment up to £235,500 and found one close by in Lynton I like with open areas and railway links in the vicinity, the downside is that it only has 51 years on the lease. There is not much else in Lynton in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan that many years will be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.