My husband and I are getting closer to an exchange on a house in Drybrook and my parents have transferred the exchange deposit to my property lawyer. I am now told that as the deposit has been sent from someone other than me my conveyancing practitioner needs to disclose this to my lender. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I advised the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your lawyer is duty bound to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
We are getting a further advance on our home loan from Santander as we want to conduct renovations to our home in Drybrook. Do we need to appoint a nearby Drybrook solicitor on the Santander conveyancing panel to deal with the legals?
Santander do not ordinarily instruct a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Santander conveyancing panel.
I had an offer accepted on a property in Drybrook on 8/4/2025, valuation was booked 4 days after, all came back fine. Property lawyer appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to UBS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the UBS conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Our offer on a semi in Drybrook has been agreed to, but there is a chain. The sellers have placed an offer on somewhere, but it’s not yet agreed to, and are looking at other properties booked. I have instructed a bricks and mortar conveyancing solicitor in Drybrook. What do I do now? When do I get the mortgage application with UBS going?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of one thousand pounds, then valuation, Drybrook conveyancing search charges, etc). The first thing to do is check that your solicitor is on the UBS approved list. Concerning the subsequent phase this very much depends on the circumstances of your transaction, attraction to this property and on the state of the market. In a rising market the majority of home buyers will apply for the mortgage with UBS and pay for the valuation and only if it was satisfactory would they ask their conveyancer to proceed with the conveyancing in Drybrook.
It has been three months since my purchase conveyancing in Drybrook completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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.
I need to find a conveyancing solicitor for freehold conveyancing in Drybrook. I happened to stumble upon a web site which seems to have the ideal solution If it is possible to get all this stuff completed via phone that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I work for a long established estate agent office in Drybrook where we see a number of flat sales jeopardised as a result of short leases. I have received conflicting advice from local Drybrook conveyancing firms. Please can you clarify whether the vendor of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Drybrook Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
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The answer will be useful as a) areas can result in problems in the building as the common areas may begin to deteriorate if maintenance remain unpaid b) if the leaseholders have an issue with the managing agents you will want to have full disclosure In the main the cost for major works tend not to be included within maintenance charges, although some managing agents in Drybrook obliged leaseholders to pay into a reserve fund and this is used to offset against major repairs or maintenance. Who are the managing agents?
We are in the process of selling our flat in Drybrook. Conveyancing is fine but we have been asked to pay a fortune by the landlord. To date we have issued a cheque for £275 for a leasehold management pack and then a further £117.20 for answers to queries supplied by the purchaser's conveyancer.
You will not have any say over the extent of the bill for this information but the average costs for the information for Drybrook leasehold property is £350. When it comes to Drybrook conveyancing sales it is usual for the vendor to pay for these costs. The freeholder or their agents are under no statutory obligation to answer these questions although many will agree to do so - albeit often at high prices disproportionate to the work involved. Regretfully there is no legislation that mandates fixed fees for administrative tasks. There is no legal time frame by which they are obliged to issue answers.