I am approaching an exchange on a property in Consett and my mum and dad have sent the ten percent deposit to my lawyer. I am now informed that as the deposit has not arrived from me my conveyancer needs to disclose this to my mortgage company. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your conveyancing practitioner is duty bound to check 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 notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front when it comes to conveyancing in Consett?
Where you are retaining lawyers for conveyancing in Consett your solicitor will ask you place them with monies to cover the the cost of the conveyancing searches. Ordinarily this is called for to cover the fees of the Local Authority Search. If any deposit is payable against the purchase price then this should be needed shortly in advance of contracts are exchanged. Any further balance that is needed should be sent to your lawyer shortly before completion.
A relative recommended that if I am buying in Consett I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Consett conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about Consett around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data about Consett.
I used Stirling Law several years past for my conveyancing in Consett. I now require my papers but cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Consett of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm purchasing my first flat in Consett with a mortgage from Alliance & Leicester . The developers refused to reduce the price so I negotiated 6k of additionals instead. The house builders rep told me not to tell my solicitor about the deal as it could affect my loan with Alliance & Leicester . Is this normal?.
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.
Completion is due on our sale of a £450,000 garden flat in Consett in seven days. The managing agents has quoted £384 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Consett?
Consett conveyancing on leasehold apartments more often than not necessitates the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be content to assist. They may levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it exceeds £800. The management information fee required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality one has little choice but to pay whatever is requested of you should you wish to sell the property.
I purchased a leasehold flat in Consett, conveyancing was carried out 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? Equivalent flats in Consett with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 yearly. The lease expires on 21st October 2102
With 77 years remaining on your lease we estimate the price of your lease extension to span between £7,600 and £8,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.