My partner and I are only a couple days away from an exchange on a property in Beaumaris and my mum and dad have sent the exchange deposit to my solicitor. I am now advised that as the deposit has been sent from someone other than me my solicitor needs to disclose this to my bank. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I disclosed to the lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
Your property lawyer is legally required to clarify 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 reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I own a freehold property in Beaumaris but nevertheless charged rent, why is this and what is this?
It is rare for properties in Beaumaris and has limited impact for conveyancing in Beaumaris but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
My Conveyancer in Beaumaris has never been on on the Nottingham Building Society Approved Panel. Can I still use my prefered solicitor notwithstanding that they are not on the Nottingham Building Society panel of approved conveyancing solicitors?
The limited options available to you here include:
- Complete the purchase with your existing Beaumaris solicitors but Nottingham Building Society will need to use a solicitor on their panel. This will result in additional overall conveyancing charges as well as result in delays.
- Get a new solicitor to act in the purchase, remembering to check they are on the Nottingham Building Society panel
I have been told that property searches are the main reason for delay in Beaumaris house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays in the conveyancing process. Searches are unlikely to be the root cause of holding up conveyancing in Beaumaris.
Despite weeks of looking the Title Certificate and documents to our home can not be found. The conveyancers who did the conveyancing in Beaumaris 10 years ago are no longer around. Will I be able to sell the house?
Assuming the title is registered the information relating to your ownership will be documented by the Land Registry with a Title Number. It is easy to perform a search at the Land Registry, locate your house and get current copies of the property title for a small fee. Where the property is Leasehold then the Land Registry will also normally retain a file duplicate of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
I am looking to sell my house. My former conveyancers closed down. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Beaumaris if that makes things easier.
Do use our search tool to help you choose a solicitor for your conveyancing in Beaumaris. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.