My Sandhurst solicitor has identified an inconsistency between the assumptions in the valuation report and what is in the conveyancing documents. My solicitor informs me that he is obliged to check that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action appropriate?
Your conveyancer 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 you.
My wife and I have a terraced Edwardian property in Sandhurst. Conveyancing solicitor acted for me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold under the matching address. Is it worth asking Chelsea Building Society to clarify?
You should review 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Sandhurst and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing lawyer who conducted the purchase.
How does conveyancing in Sandhurst differ for new build properties?
Most buyers of new build premises in Sandhurst approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because developers in Sandhurst tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Sandhurst or who has acted in the same development.
I have been on the look out for a ground for flat up to £305k and found one close by in Sandhurst I like with amenity areas and railway links in the vicinity, however it's only got 61 remaining years left on the lease. There is not much else in Sandhurst suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the shortness of the lease will likely be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
My company is planning to take an assignment of a lease of an office on a shopping parade. Can you recommend conveyancers offering no-sale-no fees for non-domestic conveyancing in Sandhurst for under 2k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Sandhurst, including the disposal and acquisition of businesses as well as simply premises. Whether you are hoping to buy or dispose of a shop, pub, restaurant, office, retail unit or a complete business we will find you the right firm. Regarding the charges these will vary based on the structure and complexity of the deal. Please provide us with your contact information or phone so as to enable us to supply you with comprehensive commercial conveyancing calculation.