The St Leonards On Sea conveyancing firm handling our St Leonards On Sea conveyancing has identified a discrepancy between the surveyor’s assumptions in the valuation report and what is in the title deeds. My lawyer says that he is obliged to check that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s stance legitimate?
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 you.
Various online forums that I have come across warn that are the primary cause of delay in St Leonards On Sea house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays in the conveyancing process. Local searches are unlikely to feature in any slowing down conveyancing in St Leonards On Sea.
Me and my brother own a renovated Georgian property in St Leonards On Sea. Conveyancing practitioner acted for me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold under the matching property. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be 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 St Leonards On Sea 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 check the situation with your conveyancing practitioner who completed the work.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a quick, no chain conveyancing. St Leonards On Sea is where the house is located. Can you shed any light on this issue?
Flying freeholds in St Leonards On Sea are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in St Leonards On Sea you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in St Leonards On Sea may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Is it best to instruct a St Leonards On Sea conveyancing lawyer in close proximity to the house I am buying? An old friend can deal with the conveyancing but her office is 200kilometers drive away.
The benefit of a local St Leonards On Sea conveyancing firm is that you can visit the firm to sign paperwork, deliver your identification documents and pester them where appropriate. Having local St Leonards On Sea know how is a bonus. However it's more important to get someone that will pull out all the stops for you. If other friends have used your friend and on the whole were impressed that must outweigh using an unknown St Leonards On Sea conveyancing solicitor just because they are based in the area.