My partner and I are approaching an exchange on a property in Birchgrove and my mum and dad have sent the exchange deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my mortgage company. Apparently, 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 disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The conveyancer is legally required to clarify with lender to make sure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
we are a couple who wish to acquire a newbuild apartment in Birchgrove with a homeloan from Alliance & Leicester .We would like to retain our Birchgrove conveyancing lawyer but Alliance & Leicester advised that he's not listed on their "panel". We have to appoint a Alliance & Leicester panel firm or retain our preferred solicitor and fork out for a Alliance & Leicester panel lawyer to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The loan offered to you contains terms and conditions, a common one being that conveyancers will be on the Alliance & Leicester solicitor panel. in the past, most banks had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Alliance & Leicester
We have agreed to purchase a house in Birchgrove. One unusual aspect is that the roof has a solar panel. Virgin Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Virgin Money your lawyer must check the conveyancing requirements contained in Section 2 of UK Finance Lenders’ Handbook for Virgin Money. The CML Handbook sets out minimum specifications for solar panel roof-space leases, and conveyancing practitioners are required to report to Virgin Money where a lease does not comply with these specifications. The requirements relate to the installation of panels on properties countrywide and is not isolated to Birchgrove.
I am selling my house. I had a double glazing fitted in April 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Nationwide are being a right pain. The Birchgrove solicitor who is on the Nationwide conveyancing panel is recommending indemnity insurance as a solution but Nationwide are requiring a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide 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 seems like an age I have had an offer on a maisonette in Birchgrove accepted, but there is a chain. The vendors have offered on on an apartment, however it’s not yet tied up, and are looking at other flats in the pipeline. I have instructed a nearby conveyancing solicitor in Birchgrove. What should be my next step? When should I get the mortgage application with Santander going?
It is understandable to have concerns 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 £1k, then valuation, Birchgrove conveyancing search fees, etc). First, you must check that your property lawyer is on the Santander conveyancing panel. As to the next stages this very much depends on the uniqueness of your transaction, desire for this property and on the state of the market. During a rising market many purchasers will apply for a home loan with Santander and arrange for the valuation and only if it comes back ok would they pay their conveyancer to press on with searches.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Birchgrove is the location of the property. Is there any guidance you can give?
Flying freeholds in Birchgrove are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Birchgrove you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Birchgrove may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Taking into account that I am about to part with £400,000 on a house in Birchgrove I wish to talk to a solicitor regarding thehouse move before giving the go ahead to the firm. Can this be arranged?
This is something that we recommend - we would be happy to talk to you we do not take any clients on without you liaising with the conveyancer due to be conducting your conveyancing in Birchgrove.There is no ‘factory style conveyancing’ - every client is unique individual, not a case reference. The law firms that we put you in touch with believe that the fees you are calculated and presented to you for residential conveyancing in Birchgrove should be the figure that you end up paying.
Expecting to exchange soon on a ground floor flat in Birchgrove. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Birchgrove should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? An explanation concerning the obligations as set out in the lease to pay service charges - with regard to both the building, and the more general rights a tenant has Are pets allowed in the flat? Responsibility to repair and maintain the main walls and foundations. It is important for you to know who is duty bound to repair and maintenance of every part of the building
I acquired a 2 bed flat in Birchgrove, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Birchgrove with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease comes to an end on 21st October 2077
With only 53 years remaining on your lease we estimate the price of your lease extension to span between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.