My Purfleet lawyer has spotted a difference when comparing the surveyor’s assumptions in the valuation report and what is revealed within the legal papers for the property. My lawyer informs me that he must ensure that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s approach legitimate?
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 you.
Are there restrictive covenants that are commonly identified during conveyancing in Purfleet?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Purfleet. 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…’
Due to the advice of my in-laws I had a survey completed on a house in Purfleet in advance of instructing conveyancers. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some lenders tend not grant a loan on this type of premises.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Purfleet. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Purfleet to see if the conveyancing costs will increase in light of this.
We're first time buyers - agreed a price, but the property agent informed us that the owners will only move forward if we use their chosen conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a high street solicitor used to conveyancing in Purfleet
It is unlikely the sellers are behind this. Should the owner require ‘a quick sale', turning down a serious buyer is is going to put the whole deal at risk. Bypass the agents and go straight to the sellers and make the point that (a)you are serious buyers (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you wish to move quickly (e)but you will continue to use your preferred Purfleet conveyancing lawyers - not the ones that will give the estate agent a kickback or achieve conveyancing thresholds demanded by HQ.
We have appointed a Purfleet conveyancing solicitor for our house purchase (novice purchasers) and have picked up in the Ts and Cs that they are not regulated by the Financial Conduct Authority. Should I be concerned or is that usually the case with property lawyer?
We can't see why they should be. Most conveyancing practitioner don't lend money. You should check that they are governed by the Solicitors Regulation Authority, who dictate stringent stipulations covering amounts held on client account.