My wife and I are nearing an exchange on a flat in Streetly and my mum and dad have transferred the ten percent deposit to my property lawyer. I am now advised that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my mortgage company. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
Your conveyancer is legally required to check with the bank to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Streetly. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 30/1/2025, the requirements read as follows :
Is it best to instruct a Streetly conveyancing solicitor in close proximity to the house I am hoping to buy? An old friend can execute the conveyancing but his firm is located 200kilometers away.
The benefit of a high street Streetly conveyancing practice is that you can visit the firm to execute documents, hand in your ID and pester them if necessary. They will also have local insight which is a bonus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and the majority were impressed that must trump using an unfamiliar Streetly conveyancing lawyer solely due to them being local.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Streetly. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Streetly ?
Most houses in Streetly are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Streetly in which case you should be looking for a Streetly 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 with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor will appraise you on the various issues.
I purchased a garden flat in Streetly, conveyancing was carried out June 1996. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Streetly with over 90 years remaining are worth £180,000. The ground rent is £65 invoiced annually. The lease ceases on 21st October 2083
With just 58 years remaining on your lease we estimate the price of your lease extension to span between £22,800 and £26,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
Should one as executor remove a departed person's name from the title register for a house in Streetly?
Where a Streetly property is co-owned and one of the proprietors dies, their name will not immediately be removed from the title deeds. It is not necessary to remove their name as in the event of a sale you would simply be asked to supply proof why the co proprietor is not included in the contract, ordinarily this is in the form of the probate documents.
With the aim of making things simpler in the future you may arrange to have the deceased party erased from the title register by applying to HMLR with evidence of the death. There is no charge from the Registry for this service.