Our Soham conveyancer has identified a discrepancy when comparing the information in the valuation report and what is revealed within the conveyancing documents. My lawyer has advised that he is duty bound to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s approach correct?

Your conveyancing practitioner 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.

It has been 2 months following my purchase conveyancing in Soham completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 residence 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.

Is it simple use your search facility to locate a conveyancing solicitor in Soham on the approved list for my lender?

First select a lender such as Yorkshire Building Society, Barnsley Building Society or Aldermore then specify your location a common one being Soham. Conveyancing organisations in Soham and further afield should be identified.

Do you have any top tips for leasehold conveyancing in Soham from the point of view of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Soham can be bypassed if you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ solicitors.
If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Soham leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such works. If you dont have the consents in place you should not contact the landlord without contacting your conveyancer first. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your solicitors. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is below 80 years. It is therefore important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. The majority of landlords or Management Companies in Soham levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Soham.

Leasehold Conveyancing in Soham - A selection of Queries before buying

How much is the ground rent and service charge? Does the lease have onerous restrictions? The answer will be helpful as a) areas may result in problems for the building as the common areas may begin to deteriorate if repairs remain unpaid b) if the tenants have an issue with the managing agents you will want to know about it

There are plenty of houses in Soham on private lanes. My partner and I are buying such a house. Are there any advantages to buying a house on a private road?

Soham conveyancing solicitors are well versed in transacting propertieson private. The conveyancer should investigate Land Registry data to identify any rights or responsibilities. In many cases there is a management company (wholly owned by residents) that owners pay into for the upkeep of the road. If one exists, the road will likely be maintained and look better than publicly owned.