The Ampthill conveyancing firm handling our Ampthill conveyancing has spotted an inconsistency when comparing the information in the valuation survey and what is revealed within the title deeds. My solicitor informs me that he is obliged to check that the bank is OK with this discrepancy and is still content to lend. Is my lawyer’s course or action legitimate?
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.
What happens if my solicitor is expelled from the Nottingham Conveyancing panel ahead of completing my conveyancing in Ampthill?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
How does conveyancing in Ampthill differ for newly converted properties?
Most buyers of new build premises in Ampthill come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Ampthill tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Ampthill or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £235,500 and found one round the corner in Ampthill I like with open areas and transport links nearby, however it's only got 49 years on the lease. There is not much else in Ampthill in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease will likely be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
How difficult is it to switch conveyancer as I need to appoint one who is on the HSBC Bank conveyancing panel. I hired a family conveyancing solicitor in Ampthill round the corner but he is not accepted by HSBC Bank
It would be our pleasure to help you select a conveyancing solicitor in Ampthill on the HSBC Bank panel. Please note that the conveyancers that we work with do not pay us fee if you instruct them and are under regulation of the SRA who oversee all conveyancing solicitors in Ampthill. In utilising search facility on this website, you can scrutinise costs for conveyancing solicitors in Ampthill and beyond.