My wife and I are getting closer to an exchange on a house in Lincolnshire and my mum and dad have transferred the 10% deposit to my conveyancing practitioner. I am now advised that as the deposit has been sent from someone other than me my solicitor needs to make a notification to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I informed the lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancing practitioner is duty bound to check with the bank to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I have been on the look out for a leasehold apartment up to £245,000 and identified one round the corner in Lincolnshire I like with amenity areas and station in the vicinity, the downside is that it's only got 52 years on the lease. There is not much else in Lincolnshire for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan the shortness of the lease will likely be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
Is it possible to swap conveyancer as I need to appoint a firm on the HSBC Bank conveyancing panel. I hired a high street conveyancing solicitor in Lincolnshire five minutes from me but she is not approved by HSBC Bank
We will our best to assist in finding you a conveyancing solicitor in Lincolnshire on the HSBC Bank panel. Please note that the conveyancers that we work with do not pay us fee if you instruct them and are authorised and regulated by the SRA who regulate all conveyancing solicitors in Lincolnshire. In utilising search facility on this site, you can contrast costs for conveyancing solicitors in Lincolnshire and beyond.
I need to find a conveyancing solicitor for purchase conveyancing in Lincolnshire. I've discover a web site which looks to be the perfect solution If it is possible to get all formalities done via web that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am tempted by the attractive purchase price for a two maisonettes in Lincolnshire which have about forty five years left on the lease term. Will this present a problem?
There are plenty of short leases in Lincolnshire. The lease is a right to use the premises for a prescribed time frame. As a lease shortens the value of the lease deteriorates and it becomes more expensive to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this field.
I own a garden flat in Lincolnshire, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Lincolnshire with a long lease are worth £190,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease expires on 21st October 2087
With just 61 years unexpired we estimate the premium for your lease extension to range between £19,000 and £22,000 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
We have selected a Lincolnshire conveyancing solicitor for our home move (first time buyers) and have spotted in the terms and conditions that they are not covered by the Financial Conduct Authority. Need I be concerned or is that standard with conveyancer?
We can't see why they should be. Most solicitor don't lend money. They will be regulated by the SRA, who dictate specific conditions in relation to monies sitting in their bank.