Our Rhymney conveyancer has identified a difference between the information in the valuation report and what is in the title deeds. My solicitor says that he needs to check that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action right?
Your solicitor 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.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Rhymney. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 10/9/2021, the requirements read as follows :
About to purchase a new build apartment in Rhymney. 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 legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Rhymney
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
I decided to have a survey carried out on a property in Rhymney ahead of instructing conveyancers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some lenders may refuse to give a mortgage on this type of premises.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. If you call us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Rhymney. Conveyancing may be slightly more expensive based on your lender's requirements.
What does commercial conveyancing in Rhymney cover?
Rhymney conveyancing for business premises covers a wide array of guidance, offered by qualified solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.