I am approaching an exchange on a flat in Aldersgate and my parents have sent the ten percent deposit to my conveyancer. I am now told that as the deposit has been received from someone other than me my property lawyer needs to make a notification to my bank. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I advised the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?
The property lawyer is obliged to check with mortgage company to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
I opted to have a survey carried out on a house in Aldersgate prior to instructing solicitors. I have been informed that there is a flying freehold element to the house. The surveyor advised that some banks tend refuse to grant a mortgage on such a premises.
It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. If you contact us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Aldersgate. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Aldersgate to see if the conveyancing will be more expensive.
Are there any apps to assist me to locate a Aldersgate law firm on the Nottingham Building Society conveyancing panel? I have wheels and am happy to travel upto 10kilometers to meet the conveyancer.
You can use the facility on this website. Please choose the bank and your location and you will see a number of Aldersgate conveyancing lawyers locally. We have detailed some Aldersgate conveyancing firms at the bottom of this page and you can contact them to see if they are on the Nottingham Building Society panel
I have been sourcing a conveyancing practitioner in Aldersgate for my purchase. Is it possible to check a firm’s complaints history with the profession’s regulator?
One may see presented Solicitor Regulator Association (SRA) decisions arising from inquisitions commenced on or after 1 January 2008. Visit Check a solicitor's record. To find information Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training reasons.
What advice can you give us when it comes to appointing a Aldersgate conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Aldersgate conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Aldersgate conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:
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What are the costs for lease extension work?
Having spent months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Aldersgate. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the premium.
An example of a Lease Extension matter before the tribunal for a Aldersgate residence is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case related to 2 flats. The unexpired residue of the current lease was 72.39 years.
Are the Aldersgate conveyancing lawyers identified as being on the mortgage company conveyancing panel, together with their details provided by the bank?
Aldersgate law firm practices and firms conducting conveyancing in Aldersgate themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the bank directly.