We are nearing an exchange on a property in Knighton and my parents have transferred the ten percent deposit to my solicitor. I am now told that as the deposit has not come from me my solicitor needs to make a notification to my lender. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company about my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?
The property lawyer is obliged to check with mortgage company to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
This question may be naive but I am new to the process as a 1st time buyer of a garden flat in Knighton. Do I receive the keys to the premises on the completion date from my solicitor? If this is the case, I will instruct a High Street conveyancing solicitor in Knighton?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the vendor’s solicitors, and shortly after the monies have arrived, you will be able to receive the keys from the Estate Agents and start moving into the property. Usually this occurs early afternoon.
A relative informed me that in buying a property in Knighton there may be a number of restrictions affecting the ability to carry out external alterations to a property. Is this right?
We are aware of a number of properties in Knighton which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Knighton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We are getting a further advance on our home loan from Aldermore as we wish to carry out renovations to our house in Knighton. Do we need to select a high street Knighton solicitor on the Aldermore conveyancing panel to deal with the paperwork?
Aldermore would not normally instruct a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore conveyancing panel.
I need some fast conveyancing in Knighton as I have an ultimatum to exchange contracts within one month. A mortgage is not required. Can I decline from having conveyancing searches to save fees and time?
As you are not taking a mortgage you have the choice not to do searches although no lawyer would suggest that you don't. With plenty of history conveyancing in Knighton the following are examples of what can crop up and adversely impact future saleability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Railway Schemes,...
How do I use the search tool to get a quote from a conveyancing solicitor in Knighton on the approved list for my mortgage?
1st pick a lender such as Lloyds TSB Bank, Virgin Money or Barclays Direct then type in your location such as Knighton. Conveyancing practices in Knighton and across England and Wales will then be shown.
Having had my offer accepted I require leasehold conveyancing in Knighton. Before I get started I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Knighton - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I bought a split level flat in Knighton, conveyancing was carried out 6 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Knighton with an extended lease are worth £181,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2076
With only 51 years unexpired we estimate the price of your lease extension to span between £30,400 and £35,200 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
My solicitors in Knighton have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the mortgage company. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the bank Conveyancing Panel Terms. It might be worth you contacting the bank directly.