My husband and I are getting closer to an exchange on a property in Burslem and my mum and dad have transferred the ten percent deposit to my lawyer. I am now informed that as the deposit has been sent from someone other than me my lawyer needs to disclose this to my lender. 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 disclosed to the bank concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
The lawyer is obliged to clarify with the bank to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
We are purchasing a house and require a conveyancing solicitor in Burslem who is on the Nationwide conveyancing panel. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Nationwide . We don't recommend any particular firms conducting conveyancing in Burslem.
Me and my partner are purchasing a house in Burslem. It might be a silly question but how we can trust a solicitor? At some point we will need to put our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Are all Burslem Conveyancing Quality Solicitors on the HSBC conveyancing panel?
It is true that some banks and building societies now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Burslem solicitor - who is on the Coventry BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Burslem postcode. As you are getting a mortgage with Coventry BS, you could contact them to see if they have a list of approved surveyors in Burslem.
Have purchased a a terraced house in Burslem , how long should it take for the Land Registry to deal with the formalities evidencing my ownership? My Burslem conveyancing solicitor has been painfully slow, so I want to be sure the post completion formalities are concluded.
There is nothing unique when it comes to conveyancing in Burslem registration formalities. As opposed to being determined by geographic area, timescales can vary according to the party submitting the application, whether it is in order and whether the Land registry must send notices to any interested parties. As of today approximately 80% of submission are completed in less than three weeks but occasionally there can be longer hold-ups. Registration takes place after the purchaser has moved in to the property therefore registration formalities is not always top priority yet where it is urgent that the the registration takes place urgently then you or your solicitor could communicate with the Registry to express the reasoning for the application to be prioritised.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Burslem. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Burslem ?
The majority of houses in Burslem are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. it is apparent that you are purchasing in Burslem in which case you should be shopping around for a Burslem conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should report to you on the legal implications.
I inherited a studio flat in Burslem, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Burslem with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 per annum. The lease runs out on 21st October 2094
With 69 years left to run the likely cost is going to be between £9,500 and £11,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.