The Attleborough conveyancing firm handling our Attleborough conveyancing has identified an inconsistency between the surveyor’s assumptions in the valuation survey and what is in the legal papers for the property. My lawyer says that he must check that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s course or action right?
Your conveyancer 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 you.
I purchased a freehold premises in Attleborough yet charged rent, why is this and what is this?
It is rare for properties in Attleborough and has limited impact for conveyancing in Attleborough 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
Should our conveyancer be raising enquiries regarding flooding during the conveyancing in Attleborough.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Attleborough. Some people will buy a property in Attleborough, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, but there are a numerous checks that can be initiated by the buyer or on a buyer’s behalf which can figure out the risks in Attleborough. The conventional set of completed inquiry forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the owner to discover whether the premises has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the seller, then a buyer could issue a claim for damages stemming from an misleading reply. A buyer’s solicitors may also conduct an environmental search. This will reveal whether there is any known flood risk. If so, more detailed investigations should be initiated.
Due to the input of my in-laws I had a survey completed on a property in Attleborough before retaining lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies tend refuse to issue a loan on this type of home.
It varies from the lender to lender. Lloyds has different instructions from Halifax. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Attleborough. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Attleborough to see if the conveyancing costs will increase in light of this.
My cousin is purchasing a ground floor flat in Attleborough. He has received a fee estimate by the conveyancing practitioner connected to the estate agents totaling £1245 . It was eight years ago since I sold and purchased a house and the bill was £600. Have costs really gone up that much?
You should e-mail a few local Attleborough conveyancing solicitors seeking estimates. You should base your selection not only on cost, but on promptness and on how comprehensive the response is.