My partner and I are only a couple days away from an exchange on a flat in Copthorne and my mum and dad have sent the ten percent deposit to my property lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the lender regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your solicitor is legally required to clarify with the bank to ensure that they know that the balance of the purchase price is not from your own funds. The solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Our mortgage company has recommended solicitors on their panel based in Copthorne but I would rather choose a conveyancing lawyer in Copthorne or nearer to where I live. Are you able to help?
It is by no means the case that all Copthorne conveyancing solicitors are listed all banks conveyancing panel. Use the above find an approved solicitor tool to identify a Copthorne conveyancing conveyancer on the on the mortgage company panel.
Have just purchased a repossessed house at auction in Copthorne. Conveyancing is required. What happens now?
Now that you are to all intents and purposes signed on the dotted line you will need to find a conveyancing practitioner quickly as you now have a tight a fixed date to complete the property. An auction property will ordinarily have a bespoke legal set of papers. This will likely include most,if not all of the paperwork that your conveyancer requires. If you have purchased leasehold premises the legal pack may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to a leasehold property. You should pass this on to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that that you have the requisite funding in place to complete on the on the contractual date .
Can I be sure that the Copthorne conveyancing solicitor on the Yorkshire BS panel is any good?
When it comes to conveyancing in Copthorne seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor conducting your transaction.
My husband and I are spending time viewing apartments in Copthorne and I am about to put in an offer. Is it wise to have a solicitor on ‘stand by’? I am planning to take a home loan with Kent Reliance.
It would be advisable to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. Given that you are obtaining a mortgage with Kent Reliance, make sure you remember to check that your lawyer is on the Kent Reliance conveyancing panel.
Am I better off to appoint a Copthorne conveyancing solicitor in close proximity to the house I am buying? I have an old university friend who can conduct the legal work however they are based over three hundred miles drive away.
The benefit of a high street Copthorne conveyancing practice is that you can attend the office to sign documents, present your ID and pester them if necessary. They will also have local intelligence which is a plus. That being said it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and in the main were happy that should surpass using an unfamiliar Copthorne conveyancing lawyer solely due to them being local.
I am looking at a couple of maisonettes in Copthorne both have in the region of 50 years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a period of time. As the lease shortens the marketability of the lease deteriorates and it becomes more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this area.
I am the registered owner of a 1 bedroom flat in Copthorne, conveyancing formalities finalised in 2012. How much will my lease extension cost? Comparable properties in Copthorne with an extended lease are worth £227,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease ceases on 21st October 2096
With just 72 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
When it comes to my conveyancing in Copthorne should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Copthorne conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.