The Witham conveyancing firm handling our Witham conveyancing has discovered an inconsistency between the surveyor’s assumptions in the home valuation survey and what is in the title deeds. My solicitor says that he is obliged to check that the lender is happy with this discrepancy and is content to go ahead. Is my lawyer’s approach correct?
Your lawyer 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.
Why do I have to pay up front for conveyancing in Witham?
Where you are retaining lawyers for conveyancing in Witham your lawyer will ask you place them with monies to cover the search fees. Normally this is requested to cover the fees of the conveyancing searches. When the down payment is as part of the sale price then this will be asked for immediately before exchange of contracts. Any further balance that is needed should be sent to your lawyer shortly before completion.
I have justbeen informed that Action Conveyancing have closed. They conducted my conveyancing in Witham for a purchase of a freehold house 18 months ago. How can I check that my home is in my name in the name of the previous owner?
The easiest way to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Witham conveyancing specialists.
I'm buying my first flat in Witham with the aid of help to buy. The builders refused to reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not to tell my solicitor about the side-deal as it could adversely affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a flat up to £245,000 and identified one round the corner in Witham I like with amenity areas and railway links in the vicinity, however it only has 49 remaining years left on the lease. There is not much else in Witham in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage that many years will be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.