Our New Invention conveyancer has spotted a discrepancy when comparing the information in the home valuation survey and what is revealed within the conveyancing documents. My lawyer has advised that he is duty bound to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action correct?
Your conveyancing practitioner 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.
Can your site be used to locate a Conveyancing solicitor in New Invention even if I’m not buying or disposing of a house, for example if I want to acquire a shop in New Invention with a loan from Halifax?
The service is predominantly there to select domestic conveyancing solicitors in New Invention but we have set out towards the end of this page some New Invention commercial conveyancing firms. You will need to make contact with the solicitors directly to see if they are also authorised to represent Halifax
About to purchase a new build flat in New Invention. Conveyancing is necessary evil 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 legal work.
Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in New Invention
The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one round the corner in New Invention I like with open areas and railway links in the vicinity, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in New Invention for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage that many years will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
My folks cant seem to find their New Invention land registry title on the website. They recall that back in the 60’s when they purchased the house there were complications with New Invention not being identified on some systems.
Nearly all properties in New Invention should be revealed. Have you limited your search with just the postcode. Usually it will mention all the premises inside that postcode. Where registered it will be there with a title number. If they bought back in the 70’s it's conceivable it may be unrecorded. The property might still be revealed but with the title number identified as 'na'. In this scenario you will need to find the original title papers which might be with your parent’s mortgage company.