Our Gants Hill solicitor has spotted an inconsistency between the assumptions in the home valuation survey and what is in the title deeds. My solicitor says that he must ensure that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s approach legitimate?
Your conveyancing practitioner 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.
How does conveyancing in Gants Hill differ for new build properties?
Most buyers of new build residence in Gants Hill contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because builders in Gants Hill usually buy the site, 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 Gants Hill or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a house in Gants Hill prior to instructing conveyancers. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some lenders tend refuse to issue a mortgage on a flying freehold premises.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Gants Hill. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Gants Hill to see if the conveyancing will be more expensive.
I need to retain a conveyancing solicitor for remortgage conveyancing in Gants Hill. I have stumble across a site which seems to have the perfect answer If there is a chance to get all the legals completed via email that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I today plan to offer on a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Gants Hill. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
Most houses in Gants Hill are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Gants Hill in which case you should be shopping around for a Gants Hill conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.
Despite our best endeavours, we have been unsuccessful in trying to purchase the freehold in Gants Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the LVT to judgment on the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Gants Hill premises is 59 & 59a Clarendon Gardens in February 2014. The Tribunals valuation for the freehold was £30,073.00 The remaining number of years on the lease was 65 and 61.