We are nearing an exchange on a property in Chalfont St Giles and my mum and dad have sent the exchange deposit to my solicitor. I am now informed that as the deposit has been received from someone other than me my conveyancing practitioner needs to make a notification to my bank. Apparently, in also acting for the bank he must advise 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 mortgage, so is it really appropriate for him to raise this?
The lawyer is obliged to check with the bank to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Chalfont St Giles so that I can pop in to their offices if necessary.
Whereas this was necessary ten years ago, most lenders no longer oblige their conveyancing panel lawyer to witness the borrowers signature. You will still be obliged to hand over identification documents and there are still manifest benefits to instructing a local ayer, in your case a conveyancing solicitor in Chalfont St Giles.
I am the sole recipient of my late mum's estate and I have everything in my name now, including the house in Chalfont St Giles. The Chalfont St Giles property was put into my name in January. I plan to dispose of the property. I understand that there is a CML six month 'rule', meaning my property ownership could be considered the same way as though I had purchased the property in January. Will no one buy the property for half a year?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. many lenders would take a pragmatic view as this clause chiefly exists to identify subsales or the wholesaling and assigning of property.
When it comes to lenders such as Nottingham, do Chalfont St Giles conveyancers face an annual charge to be on the conveyancing panel?
We are unaware of any bank fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
is it true that all Chalfont St Giles conveyancing solicitors on the Lloyds conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Lloyds approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many mortgage companies do permit licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
I need some fast conveyancing in Chalfont St Giles as I have a deadline to exchange contracts within one month. A home loan is not required. Can I decline from having conveyancing searches to save money and time?
As you are are a cash purchaser you have the choice not to do searches although no solicitor would advise that you don't. With plenty of history conveyancing in Chalfont St Giles the following are examples of issues that can arise and therefore affect market value: Refused Planning Applications, Overdue Fees, Overdue Grants, Unadopted Roads,...
I've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Chalfont St Giles is where the house is located. Can you shed any light on this issue?
Flying freeholds in Chalfont St Giles are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chalfont St Giles you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chalfont St Giles may decide 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 residence.
I own a leasehold flat in Chalfont St Giles. Conveyancing and Aldermore mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Chalfont St Giles who previously acted has long since retired. Do I pay?
First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Chalfont St Giles conveyancing lawyer to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a 1st floor flat in Chalfont St Giles, conveyancing having been completed July 2002. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Chalfont St Giles with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease comes to an end on 21st October 2078
With just 53 years unexpired we estimate the price of your lease extension to be between £27,600 and £31,800 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.