The Wraysbury conveyancing firm handling our Wraysbury conveyancing has identified a discrepancy when comparing the assumptions in the home valuation survey and what is revealed within the legal papers for the property. My lawyer says that he is obliged to check that the lender is OK with this discrepancy and is content to go ahead. Is my lawyer’s approach correct?
Your conveyancing practitioner 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.
Why do I have to pay up front when it comes to conveyancing in Wraysbury?
If you are buying a property in Wraysbury your solicitor will request that you place them with funds to cover the search fees. Normally this is asked for to cover the fees of the Local Authority Search. If any deposit is payable against the sale price then this should be required immediately prior to exchange of contracts. The final balance that is due will be payable shortly before completion.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a quick, chain free conveyancing. Wraysbury is the location of the property. Is there any guidance you can give?
Flying freeholds in Wraysbury are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wraysbury 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 Wraysbury may decide 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.
Am I better off to choose a Wraysbury conveyancing practitioner in close proximity to the house I am hoping to buy? An old friend can carry out the conveyancing however his firm is located 200miles away.
The benefit of a high street Wraysbury conveyancing firm is that you can pop in to sign paperwork, present your identification documents and pester them if necessary. They will also have local insight which is a benefit. However it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and on the whole were impressed that must surpass using an unknown Wraysbury conveyancing lawyer just because they are Wraysbury based.
At what point do I cover the costs of stamp duty payable for my house transaction in Wraysbury?
The conveyancing practitioner will complete a Land Transaction Return Form on your behalf as part of your Wraysbury conveyancing transaction for signature. After completion your conveyancing practitioner will submit your Land Transaction application to the Inland Revenue and - assuming they have the money - pay any land tax due for you.