The Reigate conveyancing firm handling our Reigate conveyancing has identified a difference between the surveyor’s assumptions in the valuation survey and what is in the conveyancing documents. My lawyer has advised that he is obliged to ensure that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s course or action legitimate?
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.
A relative advised me that where I am purchasing in Reigate I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Reigate conveyancing searches. It is not a small document of about 40 pages, listing and setting out significant information about Reigate around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Reigate Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Reigate Education with maps and statistics, Local Amenities and other useful data about Reigate.
Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Reigate I like with a park and station nearby, however it's only got 51 years on the lease. I can't really find anything else in Reigate in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan that many years will likely be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you may ask them to start the process of the extension and then assign 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 lawyer about this.
I'm converting the mortgage on my existing property to a buy to let mortgage with Nationwide Building Society and I will use the rest of the raised equity as a deposit on a second house. The neighborhood we are talking about is Reigate. Will your lawyers be able to act for the two mortgage companies and tie in the conveyances?
Do use our comparison tool on this page to be sure that the lawyers are on the appropriate lender panels. Having checked that they are the conveyancer should be able to connect the two deals but you should talk with you conveyancer and make apparent your expectations and requirements.
My partner has suggested that I use his conveyancers in Reigate. Do I take his advice?
Much as we are happy to recommend a Reigate conveyancing lawyer the best way to select a conveyancing solicitor is to seek referrals from friends or relatives who have used the firm that you are considering.