We are only a couple days away from an exchange on a flat in Ketton and my mum and dad have sent the exchange deposit to my conveyancer. I am now informed that as the deposit has been sent from someone other than me my lawyer needs to disclose this to my mortgage company. Apparently, 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 about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The solicitor is duty bound to clarify with lender to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Is there a reason why leasehold purchase conveyancing in Ketton costs more?
Ketton leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Is it necessary to take out insurance to address the risk of chancel repairs when acquiring a house in Ketton?
Unless a previous acquisition of the house took place post 12 October 2013 you can take it that conveyancing practitioners delivering conveyancing in Ketton to remain recommending a chancel search and or chancel repair liability policy.
I have been on the look out for a leasehold apartment up to £235,500 and identified one near me in Ketton I like with open areas and railway links nearby, the downside is that it only has 52 years on the lease. I can't really find anything else in Ketton for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage that many years will be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
My wife and I purchased a leasehold flat in Ketton. Conveyancing and Santander mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Ketton who acted for me is not around. Do I pay?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Ketton conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Ketton Leasehold Conveyancing - Sample of Queries Prior to buying
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How much is the ground rent and service charge? Best to be warned if changing the roof or some other major work is due in the foreseeable future to be shared amongst the tenants and could well materially impact the level of the service charges or require a one time payment. Are any of leasehold owners in arrears of their service charge liability?
Are you able to shed any light on the variety of conveyancing undertaken by Ketton conveyancing companies?
The majority of Ketton conveyancing companies tend to offer a broad array of legal advice to residential and agricultural land proprietors, sellers, investors, freeholders and leaseholders and you can expect them to do some of the following services:
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Property sale conveyancing in Ketton or across the country
Property purchase conveyancing in Ketton and further afield
Matrimonial conveyancing countrywide Conveyancing for builders and developers Transfer of property or a share in a property Assisted buying schemes - Help to Buy conveyancing