The Earlswood conveyancing firm handling our Earlswood conveyancing has discovered a discrepancy when comparing the assumptions in the valuation report and what is revealed within the legal papers for the property. My solicitor says that he needs to ensure that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s stance right?
Your conveyancer 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 have recentlydiscovered that Wolstenholmes have closed. They conducted my conveyancing in Earlswood for a purchase of a leasehold apartment 10 months ago. How can I establish that the property is in my name in the name of the previous owner?
The quickest method to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Earlswood conveyancing specialists.
How does conveyancing in Earlswood differ for new build properties?
Most buyers of new build or newly converted property in Earlswood come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in Earlswood usually purchase the real estate, 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 conveyancers 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 used to new build conveyancing in Earlswood or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one near me in Earlswood I like with amenity areas and transport links nearby, however it only has 52 years on the lease. I can't really find anything else in Earlswood in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
What does commercial conveyancing in Earlswood cover?
Commercial conveyancing in Earlswood covers a broad range of services, supplied by qualified solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.