My Halesowen lawyer has identified a discrepancy when comparing the information in the home valuation report and what is in the legal papers for the property. My lawyer has advised that he is duty bound to check that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s stance 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 you.
My bid for a property was accepted at auction in Halesowen. Conveyancing is necessary. What is next?
Given that you are now legally bound yourself to purchase you now have to retain a conveyancing practitioner as a matter of priority as you are facing a tight a drop dead date to complete the purchase. An auction property will ordinarily have a bespoke legal set of papers. This will include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the auction papers should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You must give this to the conveyancer working for you as soon as possible. You also need to ensure that your finances are organised to complete on the date specified in the contract.
Is it correct that all Halesowen CQS (Conveyancing Quality Scheme) solicitors are on the Nottingham conveyancing panel?
Some major banks and building societies now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
I am buying a property in Halesowen. One unusual aspect is that the roof has a solar panel. Skipton have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Skipton your lawyer must check the conveyancing requirements contained in Section 2 of UK Finance Lenders’ Handbook for Skipton. The Council of Mortgage Lenders’ Handbook includes minimum specifications for solar panel roof-space leases, and conveyancers are required to report to Skipton where a lease fails to comply with these requirements. The conditions relate to the installation of panels on properties countrywide and is not restricted to Halesowen.
What will a local search reveal regarding the house my wife and I buying in Halesowen?
Halesowen conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search company for example Onsearch The local search plays an important part in many a Halesowen conveyancing purchase; that is if you don’t want any nasty once you have moved into your property. The search should supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
Are there restrictive covenants that are commonly identified as part of conveyancing in Halesowen?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Halesowen. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a ground for flat up to £235,500 and identified one near me in Halesowen I like with open areas and station in the vicinity, the downside is that it only has 51 years on the lease. There is not much else in Halesowen suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.