My wife and I are getting closer to an exchange on a house in Helmsley and my parents have sent the 10% deposit to my conveyancer. I am now advised that as the deposit has been received from someone other than me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your solicitor is legally required to check 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 disclose this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Finally the sale completed on my house in Helmsley last September but the buyer keeps telephoning daily to say her solicitor is waiting to hear from mylawyer. What should my lawyer have done following completion?
Post completion of your sale your solicitor should deliver the transfer deeds and all supplemental paperwork to the purchaser's lawyers. Where relevant, your conveyancer must also evidence that the legal charge in favour of the lender has been paid off to the purchasers lawyers. There is unlikely to be post completion formalities specific conveyancing in Helmsley.
I used Action Conveyancing a few years past for my conveyancing in Helmsley. I now require my papers but cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Helmsley of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Helmsley differ for new build properties?
Most buyers of new build residence in Helmsley contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Helmsley typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Helmsley or who has acted in the same development.
Should I go with a Helmsley conveyancing lawyer who is local to the property I am hoping to buy? We have a good friend who can execute the conveyancing however her office is 400kilometers away.
The primary upside of using a local Helmsley conveyancing practice is that you can visit the firm to execute documents, hand in your identification documents and pester them where appropriate. Having local Helmsley know how is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If other friends have used your friend and they were impressed that must surpass using an unknown Helmsley conveyancing lawyer solely due to them being Helmsley based.
I've recently bought a leasehold house in Helmsley. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a 1st floor flat in Helmsley, conveyancing formalities finalised in 2011. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Helmsley with over 90 years remaining are worth £197,000. The ground rent is £55 levied per year. The lease ceases on 21st October 2080
You have 55 years left to run we estimate the price of your lease extension to be between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.