I am approaching an exchange on a house in Fleet and my parents have sent the ten percent deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my mortgage company. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I disclosed to the mortgage company 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 legally required to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
My wife and I buying a victorian detached house in Fleet. The intention is to convert the garage to a playroom at the house.Will legal investigations on the property involve enquiries to determine if these alterations are permitted?
Your solicitor should review the deeds as conveyancing in Fleet will occasionally reveal restrictions in the title documents which restrict categories of works or need the consent of another owner. Certain additions need local authority planning consent and approval in compliance with building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be prudent to check these issues with a surveyor ahead of any purchase.
I am due to exchange contracts on my apartment. I had a double glazing fitted in July 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Virgin Money are being pedantic. The Fleet solicitor who is on the Virgin Money conveyancing panel is saying indemnity insurance will be fine but Virgin Money are insisting on a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Our offer on a detached house in Fleet has been agreed to, the vendors do however have a dependent purchase. The sellers have offered on a property, however it’s not yet agreed to, and have viewings of other properties booked. I have chosen a bricks and mortar conveyancing solicitor in Fleet. What should be my next step? When should I get the mortgage application with Barclays started?
It is normal to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is in the region of one thousand pounds, then valuation, Fleet conveyancing search fees, etc). The first course of action is to check that your conveyancer is on the Barclays conveyancing panel. Regarding the next phase this very much depends on the specifics of your case, desire for this property and on the state of the market. In a buoyant market many buyers will apply for a home loan with Barclays and pay for the valuation and only if it comes back ok would they ask their lawyer to press on with searches.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one close by in Fleet I like with a park and station nearby, however it's only got 49 years unexpired on the lease. I can't really find anything else in Fleet for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
My husband and I are novice buyers - agreed a price, yet the property agent told us that the seller will only proceed if we use the agent's preferred lawyers as they need an ‘expedited deal’. My instinct tells me that we should use a local conveyancer accustomed to conveyancing in Fleet
It is highly unlikely the owners are behind this. If they desire ‘a quick sale', alienating a genuine purchaser is likely to cause more damage than good. Try to communicate with the sellers directly and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are chain free (d) you wish to move quickly (e)but you intend to appoint your preferred Fleet conveyancing solicitors - not the ones that will provide the estate agent a commission or hit his conveyancing thresholds demanded by head office.
Having had my offer accepted I require leasehold conveyancing in Fleet. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Fleet - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Fleet Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing
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Does the lease have onerous restrictions? The majority of Fleet leasehold apartments will incur a service bill for the upkeep of the building set on behalf of the landlord. If you buy the property you will have to meet this charge, normally periodically during the year. This may differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all probability there will be a ground rent to be met yearly, ordinarily this is not a exorbitant sum, say about £50-£100 but you need to check as sometimes it could be many hundreds of pounds. How many of the leaseholders are in arrears for their maintenance charge payments?
Me and my wife are disposing of a Fleet house left to us six years ago in 2009. I have over a decades worth of conveyancing knowledge and, although retired, see no reason not to carry out my own legal work. The buyer's conveyancing practitioner has informed me that their Lenders will not allow us to do our own conveyancing requiring the funds to be passed via a solicitor's bank account.
Lending instructions to solicitors from all CML members state that If the seller is not legally represented the buyer’s lawyers should check whether the bank needs to be notified so that a decision can be reached if they are willing to proceed.