We are only a couple days away from an exchange on a house in Kidderminster and my parents have transferred the 10% deposit to my lawyer. I am now informed that as the deposit has not arrived from me my conveyancing practitioner needs to make a notification to my mortgage company. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
The solicitor is obliged to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Do I have to attend the offices of the solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Kidderminster so that I can pop in to their offices when needed.
Most conveyancing panel lawyers for banks carry out the vast majority of work through the post, e-mail or over the phone. This enables them to conduct the legal work for your home move regardless of where you live in England or Wales. However you can see if you can still book an appointment to visit conveyancing lawyer if needed.
We are selling our home in Kidderminster and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A high street Kidderminster lawyer would know that there is no such problem. It does beg the question why the purchasers used an online conveyancing practice rather than a conveyancing solicitor in Kidderminster. We have lived in Kidderminster for 5 years we know of no issue. Is it a good idea to contact our local Authority to seek confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Are there restrictive covenants that are commonly picked up during conveyancing in Kidderminster?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Kidderminster. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Do you have any top tips for leasehold conveyancing in Kidderminster from the perspective of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Kidderminster can be reduced if you get in touch lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers’ representatives. If you hold a share in a the Management Company, you should ensure that you hold the original share document. Organising a new share certificate is often a lengthy process and frustrates many a Kidderminster conveyancing deal. If a duplicate share is needed, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity. The majority of freeholders or Management Companies in Kidderminster charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Kidderminster. A minority of Kidderminster leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors. If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Kidderminster state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such alterations. If you dont have the paperwork in place you should not contact the landlord without checking with your solicitor in advance.
Kidderminster Leasehold Conveyancing - Sample of Questions you should ask Prior to buying
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On the whole the outlay for major works tend not to be included within service charges, albeit that there some managing agents in Kidderminster require leaseholders to pay into a reserve fund created for the specific intention of building a fund for major repairs or maintenance. It would be wise to discover as much as you can regarding the company managing the building as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to daily matters such as the cleanliness of the common parts. Ask prospective neighbours what they think of them. In conclusion, investigate as to the dates that the service fees are due to the managing agents and specifically what it includes. If a Kidderminster lease has no more than 80 years it will affect the marketability of the flat. Check with your mortgage company that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will most likely require a lease extension at some point and you need to have some idea of how much this will be. For most Kidderminsterlease extensions you will need to own the residence for two years before you are entitled to extend the lease.
When it comes to my conveyancing in Kidderminster should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Kidderminster conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the lawyer's time in submitting the funds this way.