The New Forest conveyancing firm handling our New Forest conveyancing has identified a discrepancy between the assumptions in the home valuation report and what is in the title deeds. My solicitor has advised that he is duty bound to check that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s approach appropriate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions 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.
Just bought a semi-detached house in New Forest , What is the estimated time for the Land Registry to register my ownership? My New Forest conveyancing solicitor has been painfully slow, so I want to check that my ownership is registered.
As far as conveyancing in New Forest registration is no quicker or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timescales can differ depending on who lodges the application, whether there are errors and whether the Land registry have to notify any 3rd persons or bodies. At present approximately 80% of such applications are fully dealt with within 12 days but some can be subject to extensive hold-ups. Registration occurs once the purchaser has moved in to the property therefore post completion formalities is not usually top priority yet where there is a degree of urgency associated with the registration then you or your solicitor must communicate with the Registry to express the reasoning for the application to be prioritised.
I opted to have a survey done on a property in New Forest prior to appointing lawyers. I have been told that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies may not issue a mortgage on this type of house.
It depends who your proposed lender is. Lloyds has different requirements from Birmingham Midshires. If you e-mail us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in New Forest. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in New Forest to see if the conveyancing costs will increase in light of this.
I am a sole trader planning to take an assignment of a lease of a shop on the high street. Can you recommend conveyancers offering no-move-no charges for non-domestic conveyancing in New Forest for below 1500k?
We can recommend firms who have specialist knowledge of commercial conveyancing in New Forest, including the sale and purchase of businesses as well as simply property. If you are looking to purchase or lease a shop, pub, restaurant, office, retail unit or a whole business we will find you the right solicitor. As for the charges this will depend on the structure and complexity of the deal. Please provide us with your contact information or telephone us so that we may supply you with a detailed commercial conveyancing quote.
Two months into buying a house in New Forest. Conveyancing solicitor has told us the property is "Leasehold". Will this likely adversely affect our lender’s valuation?
New Forest conveyancing does not ordinarily involve leasehold houses. The main consideration here is the unexpired lease term and the ground rent. If it's 999 years with a nominal rent, it's essentially freehold, so it shouldn't impact the value too much.
On the flip side, if it's, say, fifty five years it is bound to have a significant impact on the saleability, and most likely wouldn't be acceptable to the mortgage company. The remaining lease term and ground rent will be specified in the lease which should be made available to your conveyancing practitioner.