My Axbridge solicitor has discovered a difference when comparing the information in the home valuation survey and what is in the conveyancing documents. My lawyer says that he needs to check that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s stance appropriate?
Your 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 both parties.
Can your site be used to find a Conveyancing solicitor in Axbridge even if I’m not buying or selling a house, for example if I intend to buy a shop in Axbridge with a mortgage from ?
Our search tool is predominantly used to get a quote from residential conveyancing solicitors in Axbridge but we have listed towards the bottom of this page a selection of Axbridge commercial conveyancing firms. You should enquire with the firm directly to establish if they are also authorised to represent
My house in Axbridge is up for sale and I have a buyer. Will the need to be on the conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently in recent years.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one round the corner in Axbridge I like with open areas and railway links in the vicinity, the downside is that it's only got 49 years on the lease. I can't really find anything else in Axbridge in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
I have been advised by three or four local estate agents in Axbridge to select a conveyancer on your site. Is there a financial inducement for Estate Agents to recommend your lawyers ahead of a competitor’s?
We refuse to give any financial incentive for sending work in our direction. We found it would be just too difficult to pay a commission as members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.