The Maidenhead conveyancing firm handling our Maidenhead conveyancing has uncovered a difference between the information in the home valuation report and what is in the legal papers for the property. My solicitor says that he is obliged to ensure that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action correct?
Your conveyancer 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 both parties.
I purchased a freehold residence in Maidenhead yet charged rent, why is this and what is this?
It is rare for properties in Maidenhead and has limited impact for conveyancing in Maidenhead but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
three months have gone by following my purchase conveyancing in Maidenhead concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build house in Maidenhead with a mortgage from Chelsea Building Society. The developers refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not inform my conveyancer about the deal as it may affect my loan with the bank. Is this normal?.
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.
My partner has urged me to use his lawyers for conveyancing in Maidenhead. Should I choose my own conveyancer?
Much as we are happy to recommend a Maidenhead conveyancing lawyer the ideal way to find a conveyancing practitioner is to seek guidance from friends or family who have used the conveyancer you're considering.