The Todwick conveyancing firm handling our Todwick conveyancing has uncovered an inconsistency when comparing the surveyor’s assumptions in the valuation report and what is revealed within the title deeds. My solicitor has advised that he is obliged to ensure that the bank is OK with this discrepancy and is still content to lend. Is my lawyer’s approach legitimate?

Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions 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.

As a first time buyer what is the most important number one tip you can impart regarding purchase conveyancing in Todwick?

Not many law firms or advisers will tell you this but conveyancing in Todwick or throughout England and Wales is an adversarial experience. In other words, when it comes to conveyancing there exists lots of opportunity for confrontation between you and other parties involved in the ownership transfer. For example, the seller, selling agent and sometimes your bank. Choosing a solicitor for your conveyancing in Todwick an important selection as your conveyancer is your adviser, and is the ONE party in the transaction whose responsibility is to protect your legal interests and to protect you.

Every so often a potential adversary may attempt to persuade you that it is in your interests to do things their way. For example, the selling agent may claim to be assisting by suggesting your solicitor is wrong. Or your financial adviser may try to convince you to do take action that is contrary to your solicitors advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.

Should our solicitor be asking questions about flooding during the conveyancing in Todwick.

The risk of flooding is if increasing concern for conveyancers dealing with homes in Todwick. There are those who purchase a property in Todwick, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Conveyancers are not qualified to impart advice on flood risk, but there are a number of checks that can be initiated by the purchaser or on a buyer’s behalf which should figure out the risks in Todwick. The conventional set of completed inquiry forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the owner to determine if the premises has suffered from flooding. In the event that the residence has been flooded in past and is not revealed by the vendor, then a buyer may issue a legal claim for losses resulting from an inaccurate answer. The buyer’s solicitors should also conduct an environmental report. This will indicate if there is any known flood risk. If so, additional inquiries will need to be carried out.

Due to the advice of my in-laws I had a survey completed on a property in Todwick before appointing lawyers. I have been advised that there is a flying freehold element to the property. My surveyor has said that some mortgage companies will refuse to give a loan on a flying freehold property.

It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. Should you wish to telephone us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Todwick. Conveyancing will be smoother if you use a solicitor in Todwick especially if they are accustomed to such properties in Todwick.

Expecting to complete next month on a studio apartment in Todwick. Conveyancing lawyers assured me that they will have a report out to me tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Todwick should include some of the following:

Changes to the premises The unexpired lease term. You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years Repair and maintenance of the flat What options are open to you if a neighbour is in violation of a provision in their lease? Does the lease require carpeting throughout thus preventing wood flooring?

I invested in buying a 1 bedroom flat in Todwick, conveyancing was carried out in 2003. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Todwick with over 90 years remaining are worth £176,000. The average or mid-range amount of ground rent is £50 per annum. The lease runs out on 21st October 2098

With only 80 years left to run the likely cost is going to be between £8,600 and £9,800 plus professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.