The Alderley Edge and Wilmslow conveyancing firm handling our Alderley Edge and Wilmslow conveyancing has spotted a difference between the assumptions in the home valuation survey and what is revealed within the legal papers for the property. My lawyer says that he must ensure that the bank is OK with this discrepancy and is still content to lend. Is my lawyer’s stance legitimate?

Your solicitor must comply with the UK Finance Lenders’ Handbook conditions 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.

We wanted to use a conveyancing solicitor in Alderley Edge and Wilmslow for our house move. Our broker informed us that our mortgage company Yorkshire Building Society won't deal with them. Surely this is unduly restrictive?

Mortgage Companies tend to imposes restrictions either the type or the number of conveyancing solicitors on their member panel. Typical examples of such criteria being that a firm must have two or more partners. As well as restricting the type of firm, some have reduced the amount of firms they use to act for them. You should note that Yorkshire Building Society have no responsibility for the quality of advice provided by any member of Yorkshire Building Society Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels a few years ago even though there remains mixed opinions regarding the level of solicitor engagement in some of that fraud. Figures from the Land Registry indicate that plenty of law firms, including some in or near Alderley Edge and Wilmslow only perform one or two conveyances a year.

Will our conveyancer be raising questions concerning flooding as part of the conveyancing in Alderley Edge and Wilmslow.

Flooding is a growing risk for lawyers carrying out conveyancing in Alderley Edge and Wilmslow. There are those who buy a property in Alderley Edge and Wilmslow, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.

Lawyers are not best placed to offer advice on flood risk, however there are a number of searches that may be initiated by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Alderley Edge and Wilmslow. The conventional set of information sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the owner to find out whether the premises has historically flooded. In the event that flooding has previously occurred and is not disclosed by the owner, then a buyer may commence a claim for damages as a result of such an misleading answer. A buyer’s lawyers should also carry out an enviro search. This will disclose if there is any known flood risk. If so, further investigations will need to be made.

I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Alderley Edge and Wilmslow is the location of the property. Can you offer any assistance?

Flying freeholds in Alderley Edge and Wilmslow are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Alderley Edge and Wilmslow you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Alderley Edge and Wilmslow may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.

Are there frequently found problems that you come across in leases for Alderley Edge and Wilmslow properties?

Leasehold conveyancing in Alderley Edge and Wilmslow is not unique. Most leases are drafted differently and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

A provision for the recovery of money spent for the benefit of another party. Repairing obligations to or maintain parts of the property

You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Chelsea Building Society, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.

Alderley Edge and Wilmslow Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying

How is the lease structured? What is the service charge and ground rent on the apartment? Generally speaking the cost for major works are not included within service charges, albeit that a few managing agents in Alderley Edge and Wilmslow ask leaseholders to contribute towards a reserve fund and this is used to offset against larger works.