My partner and I are nearing an exchange on a property in Dewsbury and my parents have sent the ten percent deposit to my property lawyer. I am now told 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 not just from me. I informed the mortgage company about my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The lawyer is legally required to check with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Completed the sale of my flat in Dewsbury last November yet the purchaser is Skype messaging daily complaining that his solicitor is waiting to hear from mylawyer. What should have happened now that I have sold?
Post completion of your sale your lawyer should forward the transfer documentation and all of the paperwork to the purchaser's lawyers. Where relevant, your solicitor must also evidence that the legal charge in favour of the lender has been repaid to the purchasers conveyancers. There are no post completion steps peculiar conveyancing in Dewsbury.
The estate agent has sent us the confirmation of our purchase of a new build flat in Dewsbury. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Dewsbury
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Please supply a car parking plan. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. There must be mutual enforceability of lessee’s covenants.
How easy is it to change firm as I have to find a firm on the Norwich and Peterborough Building Society conveyancing panel. I was using a family conveyancing solicitor in Dewsbury round the corner but he is not approved by Norwich and Peterborough Building Society
We will our best to assist in finding you a conveyancing solicitor in Dewsbury on the Norwich and Peterborough Building Society panel. Please note that the solicitors that we work with do not pay us a referral fee if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Dewsbury. Using the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Dewsbury.
I am attracted to a couple of maisonettes in Dewsbury which have in the region of forty five years unexpired on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in Dewsbury is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. The majority of buyers and mortgage companies, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Dewsbury conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I invested in buying a split level flat in Dewsbury, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Dewsbury with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease ends on 21st October 2085
With 59 years unexpired we estimate the price of your lease extension to be between £20,900 and £24,200 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
My partner and I have had DIP from Skipton Building Society who indicated we could borrow up to £300k. At what point do I need to instruct a lawyer for conveyancing? Dewsbury is where we are .
It would be wise to instruct a lawyer now so that the conveyancer can open the file so they can commence their AML checks etc. If and when you wish them to start work you will be asked for a deposit usually approximately £225. That should generally be once you have the mortgage offer and survey report, nevertheless should you want to expedite matters you can start the ball rolling quicker even though you may be risking some expense.