The Smithfield conveyancing firm handling our Smithfield conveyancing has discovered an inconsistency between the information in the valuation report and what is in the conveyancing documents. My solicitor has advised that he needs to ensure that the lender is happy with this discrepancy and is still content to lend. Is my solicitor’s course or action correct?

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.

Should our lawyer be making enquiries about flooding as part of the conveyancing in Smithfield.

The risk of flooding is if increasing concern for conveyancers dealing with homes in Smithfield. Some people will acquire a property in Smithfield, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.

Conveyancers are not qualified to give advice on flood risk, but there are a number of checks that may be initiated by the purchaser or on a buyer’s behalf which should figure out the risks in Smithfield. The standard property information forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the owner to find out whether the property has suffered from flooding. In the event that flooding has previously occurred which is not revealed by the owner, then a buyer may bring a legal claim for losses resulting from an incorrect answer. A buyer’s solicitors may also order an environmental report. This will indicate whether there is any known flood risk. If so, further investigations should be initiated.

What does commercial conveyancing in Smithfield cover?

Smithfield conveyancing for business premises covers a broad range of advice, provided by qualified solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.

In my capacity as executor for the will of my father I am selling a property in Newport but live in Smithfield. My lawyer (who is 235 miles from meneeds me to sign a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing practitioner in Smithfield to attest this legal document for me?

Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are based in Smithfield

I am attracted to a two maisonettes in Smithfield both have in the region of 50 years left on the lease term. should I be concerned?

A lease is a right to use the premises for a period of time. As the lease shortens the marketability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field.

Smithfield Leasehold Conveyancing - A selection of Queries Prior to buying

How long is the Lease? What is the yearly service fee and ground rent? What restrictions are there in the Smithfield Lease?