My husband and I are only a couple days away from an exchange on a flat in Lichfield and my parents have sent the 10% deposit to my property lawyer. I am now advised that as the deposit has been sent from someone other than me my conveyancing practitioner needs to disclose this 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 disclosed to the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
Your conveyancer is obliged to clarify with the bank to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
We see that you have a search directory listing solicitors on the Barclays conveyancing panel. Do companies pay you a commission if I retain them for our conveyancing in Lichfield?
We are a listing service only for law firms wishing to communicate if they are on the Barclays conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Lichfield.
A colleague advised me that if I am purchasing in Lichfield I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Lichfield conveyancing searches. It is a large document of more than thirty pages, listing and setting out significant information about Lichfield around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful information concerning Lichfield.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Lichfield is the location of the property. Can you offer any advice?
Flying freeholds in Lichfield are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lichfield you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lichfield may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My husband and I are 14 days into a residential purchase having been referred to conveyancers by the estate agent to carry out the conveyancing in Lichfield. I am not happy. Can you help me find new solicitors?
They would have to be really poor in order to consider diss instructing them. Has your mortgage been generated? In the event that it has you need to make them aware of the new contact details and have the offer are re-issued. The conveyancer needs to be on the banks panel to avoid added expenses and complications. That should be your first question of the new solicitors. Our find a solicitor tool can assist you in finding a bank approved solicitor for your home move in Lichfield
Having had my offer accepted I require leasehold conveyancing in Lichfield. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Lichfield - then the leasehold title will always include the short particulars 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 leasehold flat in Lichfield, conveyancing formalities finalised July 1997. Can you work out an approximate cost of a lease extension? Corresponding properties in Lichfield with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ceases on 21st October 2101
With only 76 years unexpired the likely cost is going to span between £8,600 and £9,800 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.