My wife and I are getting closer to an exchange on a house in Clynderwen and my mum and dad have sent the exchange deposit to my conveyancer. I am now advised that as the deposit has not arrived from me my conveyancer needs to make a notification to my bank. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
Your solicitor is obliged to clarify with the bank to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Is there a reason why leasehold purchase conveyancing in Clynderwen costs more?
Clynderwen leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
After much negotiation I have agreed a price on an apartment in Clynderwen. My financial adviser recommended their conveyancers. I paid an on account payment of £200. Soon after, the conveyancing practitioner called me embarrassingly acknowledging that they were not on the Nottingham conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nottingham panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I've digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Clynderwen solicitor - who is on the Coventry BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Clynderwen surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Barclays have agreed my home loan in principle, my offer on a apartment in Clynderwen has been agreed to, what happens next?
The property agent will need to be informed of your lawyer's details (be sure the property lawyers are on the bank’s approved list). Telephone Barclays or the financial adviser and finish off any relevant documentation. Barclays will instruct a valuer who will get in contact with the selling agent or seller to schedule an appointment. Once carried out (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Barclays will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Clynderwen.
We are planning on selling our property in Clynderwen and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A local conveyancer would know that there is no such problem. It does beg the question why the buyers used a nationwide conveyancing firm as opposed to a conveyancing solicitor in Clynderwen. We have lived in Clynderwen for 5 years we know of no issue. Should we contact our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
The deeds to our home can not be found. The solicitors who did the conveyancing in Clynderwen 5 years ago have long since closed. What are my next steps?
Nowadays there are copies made of almost everything, and your lawyer will know precisely where to locate all the relevant paperwork so you may buy or sell your property without a hitch. Where copies are not available, your lawyer can arrange cover in the form of insurance or indemnities protecting you against future claims on your property.
I would like to let out my leasehold apartment in Clynderwen. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A lease dictates the relationship between the landlord and you the flat owner; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Clynderwen do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
I acquired a ground floor flat in Clynderwen, conveyancing was carried out 4 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Clynderwen with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 per annum. The lease runs out on 21st October 2101
You have 76 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.