Having been suggested to visit your company we were about to appoint conveyancing solicitor in Tottenham Green found by you but stumbled across some other costs illustrations via the web appear less pricey – why is this?

There are many firms of conveyancing outfits offering theoretically looks to be very low prices. We would urge you to give due consideration as to how important this transaction is to you that you are willing to be penny wise pound foolish concerning the standard of the conveyancing. Many of them accentuate a cheap fee to catch your eye but hide extra costs in the fine print..

The Tottenham Green conveyancing firm handling our Tottenham Green conveyancing has spotted a difference between the surveyor’s 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 happy with this discrepancy and is still content to lend. Is my conveyancer’s approach correct?

Your 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 both parties.

I own a freehold property in Tottenham Green but still invoiced for rent, why is this and what is this?

It’s unusual for properties in Tottenham Green and has limited impact for conveyancing in Tottenham Green but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.

Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.

When it comes to mortgage companies such as , do Tottenham Green face a fee to be on the conveyancing panel?

We are unaware of any mortgage company fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.

Is it the case that all Tottenham Green conveyancing solicitors on the conveyancing panel are governed by the SRA?

As solicitors, in order to be on the conveyancing panel they would need to be regulated by the SRA. Some mortgage companies do allow licenced conveyancers on their panel in which case such firms would be overseen by the CLC.

It is unclear whether my lender requires a lease extension. I have called into my local Tottenham Green building society branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Tottenham Green conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?

Provided that the is on the bank approved list, she or he must adhere to the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Tottenham Green is the location of the property. Can you offer any guidance?

Flying freeholds in Tottenham Green are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Tottenham Green you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tottenham Green may ascertain 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 premises.