The Orpington conveyancing firm handling our Orpington conveyancing has identified an inconsistency between the assumptions in the home valuation survey and what is revealed within the title deeds. My lawyer has advised that he is duty bound to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s stance correct?
Your lawyer 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 Orpington differ for new build properties?
Most buyers of new build premises in Orpington approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is completed. This is because builders in Orpington usually buy 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 Orpington or who has acted in the same development.
I decided to have a survey done on a property in Orpington ahead of instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some lenders will not issue a loan on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to telephone us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Orpington. Conveyancing will be smoother if you use a solicitor in Orpington especially if they are accustomed to such properties in Orpington.
My company is wishing to take over a lease of a shop on the high street. Can you recommend conveyancers offering fixed costs for non-domestic conveyancing in Orpington for below 1500k?
We can recommend firms who host a wealth of experience of commercial conveyancing in Orpington, including the sale and acquisition of businesses as well as simply premises. If you are hoping to acquire or lease a shop, pub, restaurant, office, retail unit or a complete business we can put you in touch with the right lawyer. As for the charges this will depend on the structure and heads of terms of the deal. Let us have your contact information or telephone us so that we can provide you with comprehensive commercial conveyancing calculation.
My conveyancers in Orpington have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with the bank. Is it case that being on the bank conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the bank Conveyancing Panel Terms. It might be worth you contacting the lender directly.