It has come to my attention via my broker that my Thurmaston lawyer is not on the mortgage company Conveyancing panel. How can I check?
The first thing you need to do is to call your Thurmaston lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
We are only a couple days away from an exchange on a property in Thurmaston and my mum and dad have transferred the 10% deposit to my property lawyer. I am now advised that as the deposit has been received 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 advised the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
The conveyancing practitioner is duty bound to check with lender to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only disclose this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
I just acquired a house at auction in Thurmaston. Conveyancing is needed. What are my next steps?
Having legally bound yourself to purchase you now have to instruct a conveyancing lawyer quickly as you are faced with a pending a fixed date to complete the property. Every auction property will ordinarily have a corresponding legal pack. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold property the auction papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You need to give this to your appointed conveyancing solicitor as soon as possible. You also need to ensure that you have funds in order to complete on the on the contractual date .
I am selling my flat. I had a double glazing fitted in January 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, TSB are being problematic. The Thurmaston solicitor who is on the TSB conveyancing panel is saying indemnity insurance will be fine but TSB are insisting on a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
After what feels like an age I have had an offer on a maisonette in Thurmaston accepted, the sellers do however have a connected purchase. The vendors have offered on a property, however it’s not yet agreed to, and have viewings of other properties in the pipeline. I have selected a high street conveyancing solicitor in Thurmaston. What do I do now? When should I get the mortgage application with Virgin Money started?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of one thousand pounds, then valuation, Thurmaston conveyancing search costs, etc). The first course of action is to ensure that your property lawyer is on the Virgin Money approved list. As to the subsequent phase this very much depends on the circumstances of your transaction, desire for this property and on the state of the market. During a buoyant market some home buyers will apply for a home loan with Virgin Money and pay for the valuation and only if it comes back ok would they pay their conveyancer to proceed with searches.
A friend recommended that if I am purchasing in Thurmaston I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Thurmaston conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about Thurmaston around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Thurmaston Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data regarding Thurmaston.
I only have 62 years remaining on my lease in Thurmaston. I am keen to extend my lease but my freeholder is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the freeholder. For most situations a specialist would be useful to try and locate and prepare a report to be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the application to the County Court overseeing Thurmaston.
I bought a split level flat in Thurmaston, conveyancing was carried out in 1999. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Thurmaston with a long lease are worth £216,000. The ground rent is £50 yearly. The lease expires on 21st October 2093
You have 69 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.