My husband and I are approaching an exchange on a flat in Brighton and my mum and dad have transferred the 10% deposit to my property lawyer. I am now told that as the deposit has not come from me my lawyer needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the bank concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
Your solicitor is duty bound to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
When will exchange of contracts happen for purchase conveyancing in Brighton and do I need to be at the conveyancers branch?
If you are near to one of the conveyancing solicitors in Brighton you are invited in to sign documents. However, the lender approved solicitors we recommend offer a national conveyancing service and give just as comprehensive and professional a job for you when dealing with you by post or email. The signing of the contract is not the point of no return. Signing on the dotted line simply enables the conveyancer to exchange contracts at the appropriate time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Brighton)to be in the office at the appropriate time.
My bank has recommended a law firm on their panel based in Brighton but I would rather choose a conveyancing lawyer in Brighton local to me. Can you help?
Not all Brighton conveyancing practitioners are approved and listed on all banks conveyancing panel. Use the above find an approved solicitor tool to choose a Brighton conveyancing solicitor on the on the mortgage company panel.
I'm buying a new build house in Brighton with a mortgage from Britannia. The builders would not reduce the price so I negotiated five thousand pounds worth of extras instead. The sale representative advised me not inform my lawyer about the extras as it would adversely affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Should I be suspicious about third parties that I am dealing with are encouraging me to use an internet conveyancing firm rather than a High Street Brighton conveyancing practice?
As is the case with many service providers, often referrals from family and friends can be worth their weight in gold. But there are many parties with a vested interest in a conveyancing transaction; estate agents, mortgage brokers and banks may recommend lawyers to use. On occasion the conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there behind the scenes commercial relationship behind the endorsement. You are free to appoint your preferred lawyer. Don't forget that the majority of banks operate an approved list of lawyers you are obliged to use for the mortgage related work in your home move.
Harry (my fiance) and I may need to sub-let our Brighton ground floor flat for a while due to a career opportunity. We instructed a Brighton conveyancing practice in 2004 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
Even though your previous Brighton conveyancing solicitor is no longer around you can check your lease to see if you are permitted to let out the apartment. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you need to obtain consent from your landlord or some other party before subletting. This means you not allowed to sublet in the absence of prior permission. Such consent must not not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I purchased a garden flat in Brighton, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Brighton with a long lease are worth £222,000. The ground rent is £50 yearly. The lease comes to an end on 21st October 2095
With 70 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.