Our Harlington conveyancer has uncovered an inconsistency between the surveyor’s assumptions in the valuation survey and what is in the title deeds. My solicitor has advised that he is obliged to ensure that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action legitimate?
Your solicitor 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.
It has been three months since my purchase conveyancing in Harlington took place. I have checked the Land Registry website which shows that I paid £150,000 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.
How does conveyancing in Harlington differ for new build properties?
Most buyers of new build premises in Harlington come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is built. This is because house builders in Harlington typically buy the land, 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 property lawyers 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 Harlington or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Harlington is the location of the property. Can you offer any assistance?
Flying freeholds in Harlington are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Harlington you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Harlington may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I'm converting the mortgage on my primary house to a buy to let mortgage with Barclays and intend to use the remaining equity as a deposit on another house. The area we are interested in is Harlington. Will your solicitors be able to act for the two banks and tie in the two deals?
Make use of our search tool on this site to check that the lawyers are on the relevant lender panels. On the basis that they are your lawyer will be able to simultaneously deal with the two deals but you should talk with you solicitor and communicate your desired outcome and requirements.