We are only a couple days away from an exchange on a property in Angel and my parents have transferred the 10% deposit to my lawyer. I am now advised that as the deposit has been received from someone other than me my property lawyer needs to make a notification to my lender. I am advised that, in also acting for the mortgage company 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 home loan, so is it really appropriate for him to raise this?
Your solicitor is legally required to check with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front for conveyancing in Angel?
Where you are retaining lawyers for conveyancing in Angel your lawyer will request that you place them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is payable against the sale price then this will be required shortly in advance of contracts are exchanged. Any further balance that is due will be payable a couple of days ahead of the completion date.
We are purchasing a apartment in Angel. It might be a silly question but how we can trust a lawyer? At some point we will need to deposit funds into their account. What protection do we have from them run away with our deposit?
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.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Angel conveyancing practitioner on the Bank of Ireland panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Angel. I have a mortgage agreed with Lloyds. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I am purchasing a new build house in Angel benefiting from help to buy. The builders refused to reduce the price so I negotiated 6k of additionals instead. The house builders rep suggested that I not inform my lawyer about the deal as it would put at risk my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I need to instruct a conveyancing practitioner in Angel for my purchase. Is it possible to see a solicitor's record with the profession’s regulator?
Members of the public may find presented Solicitor Regulator Association (SRA) determinations resulting from investigations started on or after Jan 2008. Go to Check a solicitor's record. For details Pre 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The SRA could recorded telephone calls for training purposes.
I am employed by a long established estate agent office in Angel where we have witnessed a few flat sales derailed due to short leases. I have been given conflicting advice from local Angel conveyancing firms. Please can you confirm whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Angel conveyancing firm to act on my behalf?
Most certainly. We can put you in touch with a Angel conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Angel premises is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case affected 4 flats. The unexpired residue of the current lease was 98 years.