Our Soho conveyancer has discovered an inconsistency when comparing the assumptions in the home valuation report and what is revealed within the title deeds. My solicitor informs me that he is obliged to check that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s stance correct?
Your conveyancer 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.
I am purchasing a semi-detached house in Soho. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Soho you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Soho.
What will a local search tell me concerning the house my wife and I purchasing in Soho?
Soho conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations such as Searches UK The local search plays a central role in most Soho conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your new home. The search should supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
I am buying a new build apartment in Soho. 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 conveyancing.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Soho
There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £425,000 maisonette in Soho next Tuesday. The landlords agents has quoted £420 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Soho?
Soho conveyancing on leasehold maisonettes normally necessitates administration charges levied by freeholders :
Answering conveyancing due diligence questions
Where consent is required before sale in Soho
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
After months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Soho. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We are happy to put you in touch with a Soho conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Soho residence is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case affected 1 flat. The unexpired lease term was 73.26 years.