My husband and I are nearing an exchange on a flat in Charmouth and my parents have sent the exchange deposit to my solicitor. I am now told that as the deposit has not arrived from me my conveyancer needs to disclose this to my mortgage company. I am advised that, in also acting for the mortgage company 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 home loan, so is it really necessary for this now to be an issue?
Your conveyancing practitioner is obliged to check with the bank to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Finally the sale completed on my house in Charmouth last May but my buyer keeps texting me to moan that her conveyancer needs to hear from mysolicitor. What should my lawyer have done now that I have sold?
After completion of your sale your lawyer is obliged to send the transfer deeds and all additional paperwork to the purchaser's conveyancer. Depending on the transaction, your lawyer should also send confirmation that the legal charge in favour of the lender has been discharged to the purchasers solicitors. There are no post completion requirements peculiar conveyancing in Charmouth.
Two weeks ago we had a mortgage agreed in principle with Virgin Money. Charmouth conveyancing practitioners were selected. How long does it take for Virgin Money to forward the offer to the conveyancer?
Some lenders take longer than others. Have Virgin Money conducted the survey? Have you advised Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We have agreed to purchase a house in Charmouth. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Coventry BS be concerned?
Given that your lender is Coventry BS your lawyer must follow the conveyancing requirements outlined in Section 2 of UK Finance Lenders’ Handbook for Coventry BS. The CML Handbook contains minimum provisions for solar panel roof-space leases, and lawyers are required to report to Coventry BS where a lease does not comply with these requirements. The requirements relate to the installation of panels on properties countrywide and is not limited to Charmouth.
The formalities of my remortgage has taken place for my property in Charmouth. Conveyancing was of an acceptable standard but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
About to purchase a new build flat in Charmouth. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Charmouth
-
There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I am looking for a leasehold apartment up to £305k and found one near me in Charmouth I like with amenity areas and transport links in the vicinity, the downside is that it only has 49 remaining years left on the lease. There is not much else in Charmouth suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage the shortness of the lease may be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
Completion is due on the sale of our £150,000 flat in Charmouth next Friday. The managing agents has quoted £312 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Charmouth?
Charmouth conveyancing on leasehold flats more often than not involves the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be content to do so. They are at liberty to invoice a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The management information fee required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. In reality you have no option but to pay whatever is requested of you if you want to sell the property.
Charmouth Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing
-
Please tell me if there are any major works on the horizon that will likely add a premium to the maintenance charges? In the main the cost for major works are not included within service charges, although a few managing agents in Charmouth obliged leasehold owners to pay into a reserve fund created for the specific intention of establishing a fund for larger repairs or maintenance. Are any of leasehold owners in arrears of their service charge liability?