We are only a couple days away from an exchange on a house in Binstead and my mum and dad have sent the ten percent deposit to my lawyer. I am now advised that as the deposit has not come from me my conveyancer needs to make a notification to my mortgage company. 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 mortgage company about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your conveyancer is obliged to clarify with mortgage company to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
What does my ID and proof of funds have anything to do with my conveyancing in Binstead? What am I being asked for?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to check the ID of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you are required to sign should confirm this. Your lender will also require certain documents to be viewed. If you refuse to supply ID verification documents, your solicitor can not take you on as a client.
Are there restrictive covenants that are commonly identified during conveyancing in Binstead?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Binstead. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How simple is it to use the search tool to locate a conveyancing solicitor in Binstead on the approved list for my lender?
1st pick a mortgage company such as Santander, The Mortgage Works or Platform Home Loans Ltd then choose your location a common one being Binstead. Conveyancing organisations in Binstead and nationally should be listed.
Back In 2007, I bought a leasehold house in Binstead. Conveyancing and HSBC Bank mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Binstead who acted for me is not around. Do I pay?
First make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Binstead conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I acquired a split level flat in Binstead, conveyancing formalities finalised in 2012. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Binstead with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease ceases on 21st October 2085
You have 60 years left to run we estimate the premium for your lease extension to be between £20,000 and £23,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
Me and my fiance have recently had an offer agreed on a apartment and had meeting on Monday with Nationwide for the mortgage. They advised me that when it comes to appointing a conveyancer that if they are not on their approved panel of conveyancing practitioners then we will have to pay out an extra fee of £200. This is because they will then have to select a solicitor to act on their behalf in addition to the one we select for ourselves and we assume responsibility for their costs. I have asked Nationwide to send me with a list so I can request estimates only from their approved conveyancers but was told they dont have such a list to hand over. Is there a list online?
You should ask Nationwide what their criteria for joining their panel is for a solicitor.Thereafter ask the lawyer of your choice whether they fit that criteria and have they acted on mortgages for Nationwide previously. If the answer to those is yes, then just clarify this with Nationwide. Another option is to use our search facility and we may be able to find you a conveyancing practitioner in Binstead on the approved list for Nationwide.