I am approaching an exchange on a flat in Duxford and my parents have sent the exchange deposit to my property lawyer. I am now informed that as the deposit has been received from someone other than me my conveyancing practitioner needs to disclose this to my lender. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The property lawyer is duty bound to check with the bank to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
I am being told by my lawyer that chancel insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Duxford?
The right level of chancel indemnity insurance depends on your lender. It would differ for example between Yorkshire Building Society and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.
Planning on purchasing a maisonette in Duxford. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Duxford solicitor is on the Kent Reliance conveyancing panel.
I've read lots 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 Duxford solicitor - who is on the Kent Reliance conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance 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 solicitor 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 Duxford postcode. As you are getting a mortgage with Kent Reliance, you could contact them to see if they have a list of approved surveyors in Duxford.
I am looking for a ground for flat up to £245,000 and found one near me in Duxford I like with a park and station nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in Duxford for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan the shortness of the lease will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
Am I better off to use a Duxford conveyancing practitioner in close proximity to the house I am hoping to buy? An old friend can carry out the legal work but her office is 200miles drive away.
The benefit of a high street Duxford conveyancing practice is that you can visit the firm to execute documents, deliver your identification documents and pester them where appropriate. They will also have local intelligence which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and in the main were impressed that must outweigh using an unfamiliar Duxford conveyancing lawyer just because they are round the corner.
Back In 2002, I bought a leasehold house in Duxford. Conveyancing and Yorkshire Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Duxford who previously acted has long since retired. Do I pay?
First contact HMLR to make sure that this person is in fact the new freeholder. There is no need to incur the fees of a Duxford conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Duxford Leasehold Conveyancing - Examples of Queries before Purchasing
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How long is the Lease? Is there a share of the freehold?