My wife and I are only a couple days away from an exchange on a property in Hingham and my parents have sent the 10% deposit to my conveyancer. I am now told that as the deposit has been received from someone other than me my conveyancing practitioner needs to make a notification to my mortgage company. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
The lawyer is legally required to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Our mortgage company has suggested a law firm on their panel based in Hingham but I would rather use a conveyancing lawyer in Hingham or nearer to where I live. Can you help?
Far from all Hingham conveyancing solicitors are on all lender’s conveyancing panel. Please make the most of our search tool to find a Hingham conveyancing firm on the on the bank panel.
I have todayfound out that Stirling Law have been shut down. They carried out my conveyancing in Hingham for a purchase of a freehold house 10 months ago. How can I check that my home is not still registered in the name of the previous owner?
The quickest way to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Hingham conveyancing specialists.
About to purchase a new build flat in Hingham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Hingham
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There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
My father has suggested that I use his lawyers for conveyancing in Hingham. Should I choose my own property lawyer?
No doubt it’s preferable to find a conveyancing lawyer is to have referrals from friends or relatives who have experience in using the firm you're contemplating using.
I am attracted to a two maisonettes in Hingham which have about fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the value of the lease deteriorates and results in it becoming more costly to extend the lease. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area.
I invested in buying a 1 bedroom flat in Hingham, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Hingham with a long lease are worth £175,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease expires on 21st October 2083
With just 58 years unexpired we estimate the premium for your lease extension to be between £23,800 and £27,400 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.