I am getting closer to an exchange on a property in Golders Green and my mum and dad have transferred the ten percent deposit to my conveyancer. I am now informed that as the deposit has not come from me my conveyancer needs to disclose this to my lender. I am advised that, 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 concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your lawyer is duty bound to clarify with mortgage company 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 mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front for conveyancing in Golders Green?
If you are buying a property in Golders Green your solicitor will request that you put them with monies to cover the search fees. This will be the total of the cost of the Local Authority Search. If any down payment is payable against the total price then this will be required immediately prior to contracts are exchanged. Any further balance that is due will be payable a couple of days prior to the completion date.
I am helping my sister sell her flat in Golders Green. Does the conveyancer arrange the energy performance certificate or it is for the owner to coordinate?
After the demise of Home Information Packs, EPC’s was left as a compulsory element of selling a property. An energy performance certificate must be commissioned before the property is placed on the market. This is not a task that law firms ordinarily organise. Where you are using a Golders Green conveyancing lawyer they might help arrange energy performance certificates given their contacts with reputable Golders Green providers
We previously selected conveyancers located in Golders Green on the Lloyds solicitor approved list. They are now charging me a supplemental amount for dealing with the Lloyds mortgage. Is this a supplemental conveyancing fee set by Lloyds?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your property lawyer can charge a fee for this. The fee is not dictated by Lloyds but by your Golders Green property lawyer. Numerous firms on the Lloyds panel will charge an ‘acting for lender’ fee and others do not.
TSB have agreed my mortgage in principle, my bid on a house in Golders Green has been accepted, what happens next?
Your property agent will need to know who your solicitors are (make sure the property lawyers are on the bank’s panel). Telephone TSB or the financial adviser and complete any relevant forms. TSB will appoint a valuer who will get in contact with the selling agent or owners to schedule an appointment. Once conducted (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. TSB will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Golders Green.
I require expedited conveyancing in Golders Green as I have a deadline to sign on the dotted line within one month. A home loan is not required. Can I escape the need for conveyancing searches to save money and time?
As you are are a mortgage free purchaser you are at liberty not to do searches although no conveyancer would recommend that you don't. With lots of history conveyancing in Golders Green the following are examples of issues that can appear and adversely impact market value: Enforcement Actions, Outstanding Charges, Outstanding Grants, Railway Schemes,...
I have been on the look out for a flat up to £195,000 and found one round the corner in Golders Green I like with amenity areas and station nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Golders Green for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a home loan that many years may be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
Partway through the sale of a leasehold flat in Golders Green. Conveyancing is fine but we are being charged an extortionate amount from the managing agents. So far we have forked out £295.50 for a leasehold management information and then a further £118 for supplemental questions raised by the purchaser's conveyancing practitioner.
Neither you or your lawyer will have any say over the extent of the fee for this information but the average fee for the information for Golders Green leasehold premises is £395. For Golders Green conveyancing transactions it is conventional for the seller to pay for these costs. The landlord or their agents are under no statutory obligation to answer these questions although many will agree to do so - albeit often at high prices out of proportion to the work involved. Unfortunately there is no legislation that requires capped charges for administrative tasks. There is no set time frame by which they are duty bound to provide answers.