The Irchester conveyancing firm handling our Irchester conveyancing has identified a difference when comparing the assumptions in the valuation survey and what is in the conveyancing documents. My solicitor says that he must ensure that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s course or action legitimate?
Your conveyancing practitioner 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.
I purchased a freehold premises in Irchester yet pay rent, why is this and what is this?
It is rare for properties in Irchester and has limited impact for conveyancing in Irchester 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
We hope to to buy with Loughborough BS. I visited a couple of high street companies but am struggling to find a Irchester conveyancing firm on the Loughborough BS panel. Could you help?
Feel free to take advantage of the search tool on this page. Please choose the mortgage company and type Irchester or your preferred area and you will see numerous solicitors based in Irchester or near you.
It has been 3 months following my purchase conveyancing in Irchester concluded. I have checked the Land Registry website which shows that I paid £200,000 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 property 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.
My wife and I soon to complete on the purchase a property in Irchester but as a result of damage from the recent storms I have negotiated compensation from the vendor of £2k by way of a adjustment in the price. I had intended this to be dealt with as part of the conveyancing process yet the lender will not agree to this. Should they have been notified?
Your conveyancer being on a lender conveyancing panel is duty bound to disclose to the mortgage company of any amendments to the sale price. If you were to refuse your conveyancer to report the price change to your bank then they would have no choice but to disinstructing themselves from acting for you and the bank.