I am only a couple days away from an exchange on a flat in Llanarth and Oakford and my mum and dad have sent the 10% deposit to my lawyer. I am now told that as the deposit has not come from me my conveyancer 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 not just from me. I informed the bank regarding 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 check with mortgage company to make sure that they know that the balance of the purchase price is not from your own funds. The solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
My grandmother passed away six months ago and as sole heir and executor I was left the house in Llanarth and Oakford. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Principality, pay off the mortgage. Is this possible?
If you plan to re-mortgage then Principality will insist on your using a conveyancer on the Principality conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Principality conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Principality mortgage is registered as a charge at the Land Registry.
We are purchasing a property and the conveyancer has raised the issue of Chancel Repair for which the house may be obligated to pay as it falls into the area of such a church. She has mentioned insurance. Is this strictly warranted for conveyancing in Llanarth and Oakford
Unless a prior purchase of the property completed post 12 October 2013 you can expect lawyers handling conveyancing in Llanarth and Oakford to continue to propose a a chancel search and or chancel repair liability policy.
What does commercial conveyancing in Llanarth and Oakford cover?
Commercial conveyancing in Llanarth and Oakford covers a wide array of guidance, provided by regulated solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I need to instruct a conveyancing lawyer in Llanarth and Oakford for my house move. Is there any facility to check a firm’s complaints history with the profession’s regulator?
Members of the public can find published Solicitor Regulator Association (SRA) determinations resulting from investigations from 2008 onwards. Go to Check a solicitor's record. For records Pre 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The regulator sometimes recorded call for training reasons.
I am tempted by the attractive purchase price for a couple of maisonettes in Llanarth and Oakford both have about fifty years unexpired on the leases. Do I need to be concerned?
There are plenty of short leases in Llanarth and Oakford. The lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the saleability of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this field.
I purchased a 2 bed flat in Llanarth and Oakford, conveyancing having been completed 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Llanarth and Oakford with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease runs out on 21st October 2084
With only 59 years unexpired the likely cost is going to be between £20,900 and £24,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.