My husband and I are approaching an exchange on a flat in Lickey End and my mum and dad have sent the exchange deposit to my property lawyer. I am now informed that as the deposit has not arrived from me my property lawyer needs to make a notification to my lender. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the bank about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
The lawyer is obliged to check with lender to ensure that they know that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
I purchased a freehold property in Lickey End but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Lickey End and has limited impact for conveyancing in Lickey End 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 many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
We are getting the release of further monies on our home loan from Co-operative as we want to conduct alterations to our property in Lickey End. Are we obliged to appoint a high street Lickey End solicitor on the Co-operative conveyancing panel to handle the paperwork?
Co-operative would not normally appoint a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative list.
I had a mortgage agreed in principle with UBS. Lickey End conveyancing practitioners are appointed. What is the average time that one could expect to receive a mortgage offer from UBS?
Some lenders take longer than others. Have UBS done the survey? Have you advised UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The mortgage over my property is with HSBC for my property in Lickey End. Conveyancing was finalised 12 months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform HSBC?
HSBC must be informed of your intention in advance of letting out your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel lawyer.
The estate agent has sent us the confirmation of our purchase of a new build flat in Lickey End. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Lickey End
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There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Is it best to choose a Lickey End conveyancing lawyer who is local to the property I am buying? We have a good friend who can carry out the legal formalities however his firm is located approximately 350kilometers drive away.
The primary upside of using a local Lickey End conveyancing firm is that you can drop in to execute paperwork, present your ID and pester them if necessary. They will also have local knowledge which is a benefit. However it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and on the whole were happy that must outweigh using an unknown Lickey End conveyancing solicitor solely due to them being round the corner.
I acquired a house in Lickey End last 19/3/2024 and to date it is still not registered with HM Land Registry. It was part of a development site and my solicitor told me that it may take over a year to complete the registration formalities. I have called HM Land Registry directly and they say that the initial application was cancelled due to failure to reply to requisitions. What can I do?
It is your conveyancing practitioner that you should get in touch with in order to satisfy any concerns which have been raised as part of the registration process for your Lickey End property. Normal Lickey End conveyancing practice includes an undertaking on the part of the previous owner’s conveyancing practitioner that they will help resolve any requirements raised by HMLR so it may be a case of taking action to enforce that undertaking if necessary.