The Fratton and Portsea conveyancing firm handling our Fratton and Portsea conveyancing has spotted a discrepancy when comparing the assumptions in the valuation survey and what is in the legal papers for the property. My solicitor has advised that he must ensure that the bank is OK with this discrepancy and is content to go ahead. Is my solicitor’s approach legitimate?
Your property lawyer 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 own a freehold premises in Fratton and Portsea yet pay rent, why is this and what is this?
It’s unusual for properties in Fratton and Portsea and has limited impact for conveyancing in Fratton and Portsea 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 establishment of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
How does conveyancing in Fratton and Portsea differ for newly converted properties?
Most buyers of new build premises in Fratton and Portsea come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is completed. This is because developers in Fratton and Portsea usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Fratton and Portsea or who has acted in the same development.
I am selling my property. My former lawyers have shut. It would be helpful to have a recommendation of a conveyancing firm. Im based in Fratton and Portsea if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Fratton and Portsea. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
I am using a search engine for the term cheap conveyancing in Fratton and Portsea it reveals numerous property lawyerslocally. With so much choice what is the best way to find the suitable conveyancing solicitor for my move?
The preferential way of finding a suitable conveyancer is through a personal recommendation, so seek the guidance of friends and family who have acquired a property in Fratton and Portsea or the reputable estate agent or mortgage broker. Fees for conveyancing in Fratton and Portsea differ, so it's advisable to request a minimum of four estimates from varying types of law firms. Be sure to seek confirmation what costs in the quote includes.