My partner and I are only a couple days away from an exchange on a house in Kidsgrove and my parents have transferred the exchange deposit to my lawyer. I am now told that as the deposit has not arrived from me my lawyer needs to disclose this to my bank. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I advised the lender about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
Your conveyancing practitioner is legally required to clarify with the bank to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
I own a freehold house in Kidsgrove yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Kidsgrove and has limited impact for conveyancing in Kidsgrove but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I opted to have a survey carried out on a house in Kidsgrove ahead of retaining conveyancers. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies may refuse to issue a mortgage on this type of property.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Kidsgrove. Conveyancing may be slightly more expensive based on your lender's requirements.
Taking into account that I will soon part with £400,000 on 3 bedroom house in Kidsgrove I would like to have a conversation with the lawyer about mytransaction ahead of instructing the firm. Can this be arranged?
This is something that we recommend - it is our preference to talk to you we do not take any clients on without you speaking to the solicitor who will be carrying out your conveyancing in Kidsgrove.There is no ‘factory style conveyancing’ - each client is an important person, not a case reference. The solicitors that we put you in touch with believe that the figure you are provided with for residential conveyancing in Kidsgrove should be the amount on the final invoice that you end up paying.
My uncle has recommend that I instruct his conveyancers in Kidsgrove. Do I follow his recommendation?
There are no two ways about it the ideal way to choose a conveyancing practitioner is to get guidance from friends or family who have actually previously instructed the solicitor you're considering.
I am thinking of appointing an online conveyancing practitioner rather than a Kidsgrove conveyancing firm. Any advice?
Advantages do exist in being able to attend a local Kidsgrove conveyancing solicitor for example
- signing papers on short notice
- getting one on one explanations of issues that you need help with
- the ability to complain if matters are not going as expected
When checking quotes, look carefully for hidden extras. The majority decent Kidsgrove high street solicitors give an all-inclusive price. Many online companies appear to offer discounted prices, yet have hidden 'extras' in the in the terms and conditions.