The Nayland conveyancing firm handling our Nayland conveyancing has spotted an inconsistency between the assumptions in the home valuation survey and what is in the title deeds. My solicitor informs me that he is obliged to check that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s course or action right?
Your 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.
I am buying a property in Nayland. One unusual aspect is that the roof has a solar panel. Nationwide have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Nationwide your lawyer must follow the conveyancing instructions contained in Section two of UK Finance Lenders’ Handbook for Nationwide. The Council of Mortgage Lenders’ Handbook stipulates minimum requirements for solar panel roof-space leases, and lawyers are required to report to Nationwide where a lease fails to meet these provisions. The provisions relate to the installation of panels on properties nationwide and is not isolated to Nayland.
I currently have a mortgage with HSBC for my property in Nayland. Conveyancing was finalised 12 months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform HSBC?
HSBC must be informed of your intention before renting your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel firm.
After weeks of negotiation I have agreed a price on an apartment in Nayland. My financial adviser pressured me to appoint their conveyancing practitioner. I paid an upfront payment of £225. A few days later, the solicitor called me sheepishly admitting that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Should commercial conveyancing searches disclose impending roadworks that could impact a commercial property in Nayland?
Many commercial conveyancing solicitors in Nayland will perform a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Nayland. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Nayland.
For every commercial conveyancing transaction in Nayland it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may cause delays to Nayland commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Nayland.
The estate agent has sent us the confirmation of our purchase of a new build flat in Nayland. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Nayland
Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Me and my wife have recently had an offer agreed on a flat and had an appointment on Wednesday with HSBC for the mortgage. They warned me that when it comes to selecting a solicitor that unless they are on their approved panel of lawyers then we will have to pay out an additional charge of £250+. This is because they will then have to appoint a conveyancer to act on their behalf as well as the one we select for ourselves and we will be on the hook for their fees. I have asked HSBC to supply me with a list so I can seek quotes only from their approved lawyers but was told they dont have such a list to hand over. Is their an easier way of going about this?
You should ask HSBC what their panel criteria is for a solicitor.Then ask the conveyancing practitioner of your choice whether they meet the criteria and have they acted on mortgages for HSBC previously. If the answer to those is yes, then just clarify this with HSBC. Another option is to make use of our search tool and we should be able to identify a lawyer in Nayland on the panel for HSBC.