Our Weymouth conveyancer has spotted a discrepancy between the assumptions in the valuation survey and what is revealed within the conveyancing documents. My lawyer has advised that he needs to check that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s approach right?
Your solicitor must comply with the UK Finance Lenders’ Handbook requirements 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.
Have just purchased a repossessed house at auction in Weymouth. Conveyancing is required. What is next?
Having exchanged you should retain a conveyancing solicitor as a matter of urgency as you now have a fast approaching a fixed date to complete the deal. Every auction property should have a bespoke legal pack. This will include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the conveyancing papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to leasehold premises. You should hand this to the solicitor instructed by you as soon as possible. Do make sure that you have funds in place to complete the transaction on the set completion date.
We are buying a 4 bedroom semi-detached house in Weymouth. Our aim is to carry out a loft conversion at the house.Will the conveyancing process include investigations to determine if these works were previously refused?
Your conveyancer should check the registered title as conveyancing in Weymouth can on occasion reveal restrictions in the title deeds which restrict categories of alterations or need the consent of another owner. Many additions need local authority planning consent and approval in compliance with building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor ahead of any purchase.
I'm at the point of looking at flats in Weymouth and I am now considering a potential offer. Should I already have a conveyancing practitioner appointed at this point? I will be getting a home loan with Coventry BS.
You should start requesting conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. Given that you are taking out a mortgage with Coventry BS, ask your prospective lawyers if they are on the Coventry BS conveyancing panel otherwise they can't do the mortgage legal work.
I'm buying a new build house in Weymouth with a mortgage from Bank of Scotland. The sellers refused to move on the price so I negotiated 6k of fixtures and fittings instead. The estate agent told me not reveal to my conveyancer about the deal as it could affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking at a couple of apartments in Weymouth which have about 50 years remaining on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Weymouth. The lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorates and results in it becoming more expensive to extend the lease. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena.
Leasehold Conveyancing in Weymouth - Sample of Questions you should consider Prior to Purchasing
How is the lease structured? Be sure to enquire if the the lease contains any adverse restrictions in the lease. For instance it is reasonably common in Weymouth leases that pets are not permitted in certain buildings in Weymouth. If you like the flatin Weymouth however your dog can’t live with you then you will be presented with a difficult determination. How long is the Lease?
Been on the hunt for a conveyancing practitioner for freehold sale conveyancing in Weymouth. I'm selling, uncomplicated no mortgage to pay off, no rush, currently vacant. Received a quote from a lawyer for £900 excluding VAT which is a tad high given that its so straightforward. Is it possible to find less expensive fees for conveyancing in Weymouth?
As it’s a sale only, £500 + VAT should be about the best for a Weymouth solicitor firm.