I am nearing an exchange on a flat in Ditchling and my mum and dad have sent the 10% deposit to my property lawyer. I am now advised that as the deposit has been received from someone other than me my property lawyer needs to make a notification to my mortgage company. 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 informed the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
The property lawyer is obliged to check with lender to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
I own a freehold premises in Ditchling but still charged rent, why is this and what is this?
It’s unusual for properties in Ditchling and has limited impact for conveyancing in Ditchling but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I am refinancing my house in Ditchling, does my lawyer have to be on the Clydesdale Conveyancing panel?
In theory, you could use a solicitor that is not on the Clydesdale conveyancing panel, but Clydesdale would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
We are getting the release of further monies on our home loan from Barclays as we want to carry out renovations to our property in Ditchling. Are we obliged to appoint a bricks and mortar Ditchling solicitor on the Barclays conveyancing panel to deal with the paperwork?
Barclays don't usually instruct firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays list.
Last month we had a mortgage agreed in principle with Nottingham. Ditchling conveyancing solicitors have been chosen. What is the average time that one could expect to receive a mortgage offer from Nottingham?
There is no definitive answer here. Have Nottingham done the survey? Have you advised Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
After what feels like an age I have had an offer on a maisonette in Ditchling agreed to, the owners do nevertheless have a dependent purchase. The sellers have placed an offer on somewhere, but it’s not been accepted yet, and are looking at other flats in the pipeline. I have chosen a high street conveyancing solicitor in Ditchling. What should be my next step? When should I get the mortgage application with Co-operative started?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur costs too early (mortgage application is in the region of £1k, then valuation, Ditchling conveyancing search costs, etc). First, you must check that your conveyancing practitioner is on the Co-operative approved list. Concerning the subsequent phase this very much dictated by the circumstances of your transaction, attraction to this property and on the state of the market. In a rising market some purchasers would apply for a home loan with Co-operative and arrange for the valuation and only if it comes back ok would they pay their property lawyer to move forward with the conveyancing in Ditchling.
four months have elapsed following my purchase conveyancing in Ditchling completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the guidance of my in-laws I had a survey completed on a house in Ditchling in advance of retaining solicitors. I have been advised that there is a flying freehold element to the house. My surveyor has said that some lenders tend refuse to give a loan on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. If you call us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Ditchling. Conveyancing will be smoother if you use a solicitor in Ditchling especially if they are familiar with such properties in Ditchling.