Our Redditch lawyer has uncovered an inconsistency when comparing the information in the valuation survey and what is in the title deeds. My lawyer has advised that he is obliged to check that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s approach appropriate?
Your solicitor 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.
My wife and I own a semi-detached Edwardian house in Redditch. Conveyancing practitioner represented me and Coventry Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Redditch and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with your conveyancing lawyer who carried out the work.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Redditch I like with open areas and transport links in the vicinity, however it only has 52 years on the lease. I can't really find anything else in Redditch suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage the shortness of the lease may be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
Am I right to be suspicious by third parties that I am dealing with are recommending a nationwide conveyancing firm rather than a local Redditch conveyancing company?
As is the case with lots of professional services, often recommendations from connections can be worth their weight in gold. Yet there are many parties with a vested interest in a conveyancing deal; estate agents, financial adviser and banks might all recommend solicitors to choose. Sometimes these solicitors might be known to one of the organisations as being good in their field, but occasionally there is an underlying commercial relationship behind the recommendation. You are at liberty to select your preferred lawyer. Don't forget that some banks specify a panel list of law firms you have to use for the lender aspect of your conveyancing.
My partner has recommend that I use his conveyancing solicitors in Redditch. Should I find my own solicitor?
No doubt it’s preferable to select a conveyancing practitioner is to seek recommendations from friends or family who have used the firm that you are contemplating using.