Our The Borough solicitor has uncovered a difference when comparing the surveyor’s assumptions in the home valuation survey and what is revealed within the title deeds. My lawyer says that he needs to ensure that the bank is OK with this discrepancy and is content to go ahead. Is my solicitor’s stance correct?

Your must comply with the UK Finance Lenders’ Handbook provisions 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.

We're in The Borough, First timers purchasing with a mortgage (lender is , and our solicitor is on the conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

Are there restrictive covenants that are commonly picked up during conveyancing in The Borough?

Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in The Borough. 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 am using a search engine for the term on line conveyancing in The Borough it reveals numerous solicitorsin the area. How do I determine which is the suitable solicitor for my move?

The best method of finding the right conveyancer is via trusted recommendation, so enquire of colleagues and family who have bought a property in The Borough or a local estate agent or financial adviser. Charges for conveyancing in The Borough differ, so it's a good idea to secure a minimum of four costs illustrations from varying types of law firms. Be sure to obtain confirmation that the fees are fixed.

I am in need of some leasehold conveyancing in The Borough. Before diving in I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in The Borough - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

The Borough Conveyancing for Leasehold Flats - Sample of Questions you should consider before buying

Please note if it is no more than 80 years it will affect the marketability of the apartment. It is worth checking with your bank that they are happy with remaining years on the lease. A short lease means that you will most likely need a lease extension at some point and you need to have some idea of what this will be. For most The Boroughlease extensions you would need to own the premises for a couple of years before you are entitled to carry out a lease extension. Best to be warned if redecorating or some other significant cost is due shortly to be shared between the leaseholders and may well dramatically impact the level of the maintenance charges or necessitate a one off payment. Many The Borough leasehold flats will be liable to pay a service charge for the upkeep of the building set on behalf of the freeholder. Where you acquire the flat you will have to meet this amount, normally in instalments during the year. This may vary from several hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent to be met yearly, this is usually not a large figure, say approximately £50-£100 but you should to check as on occasion it could be many hundreds of pounds.