My husband and I are approaching an exchange on a house in Belmont and my mum and dad have sent the exchange deposit to my conveyancer. I am now told that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my mortgage company. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I informed the lender regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
The conveyancing practitioner is duty bound to clarify with lender to ensure that they know that the balance of the purchase price is not from your own funds. The solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
It is 10 years ago since I purchased my home in Belmont. Conveyancing solicitors have just been appointed on the sale but I can't locate my deeds. Will this jeopardise the sale?
Don’t worry too much. First there is a chance that the deeds will be retained by your mortgage company or they may be in the possession of the lawyers who acted in your purchase. Secondly in all probability the property will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. Almost all conveyancing in Belmont involves registered property but in the unlikely event that your home is unregistered it is more problematic but is resolvable.
We are a fortnight into a freehold purchase having been referred to solicitors by the high street agent to do our conveyancing in Belmont. We are not happy. Could you you assist me in finding new lawyers?
A solicitor would have to be very poor to suggest replacing them. Has the mortgage offer been generated? In the event that it has you need to advise them of the new lawyer and have the offer are re-issued. Your solicitor ideally should be on the mortgage company approved list to avoid supplemental costs and delays. So that should be your starting point. The find a solicitor tool can help you find a lender approved conveyancer for your home move in Belmont
I've found a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Belmont. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Belmont ?
The majority of houses in Belmont are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in Belmont so you should seriously consider shopping around for a Belmont conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.
Following months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Belmont. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to determine the price payable.
An example of a Freehold Enfranchisement matter before the tribunal for a Belmont property is Buchanan Court 39 Vernon Road in April 2010. the Tribunal assessed that the premium payable for the freehold of the block should be £44,000. This case was in relation to 2 flats. The unexpired residue of the current lease was 66.67 years.
We are about to exchange buying a house in Belmont but as a result of wreckage from the recent storms I have negotiated recompense from the current proprietors of £2k in the form of a deduction in the price. This was going to be addressed as part of the conveyancing process yet my bank will not permit this. Why were they approached?
Your solicitor being on the mortgage company conveyancing panel is duty bound to disclose to the bank of any amendments to the purchase amount. In the event that you were to refuse your conveyancer to disclose the reduction to your mortgage company then they would need to refrain from representing you and the mortgage company.