I am getting closer to an exchange on a house in Long Ashton and my mum and dad have transferred the 10% deposit to my conveyancer. I am now advised that as the deposit has not arrived from me my conveyancing practitioner needs to make a notification to my mortgage company. 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 advised the lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The solicitor is legally required to clarify with the bank to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Having sold my house in Long Ashton last February but our buyer keeps SMS messaging me complaining that her conveyancer is waiting to hear from mine. What are the post completion sale legalities following completion?
After completion of your disposal your lawyer is duty bound to deliver the transfer documentation and all supplemental paperwork to the buyer’s solicitors. Depending on the transaction, your solicitor should also send confirmation that the mortgage has been redeemed to the purchasers solicitors. There is unlikely to be post completion requirements specific conveyancing in Long Ashton.
Have just purchased a repossessed house at auction in Long Ashton. Conveyancing is needed. What is next?
Having for in every practical sense signed on the dotted line you should appoint a conveyancing solicitor soon as you now have a tight deadline in which to complete the transaction. All auction property should have a bespoke legal pack. This will include most,if not all of the documents that your conveyancer requires. In the case of leasehold property the auction pack may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You need to hand this to the solicitor instructed by you ASAP. You also need to ensure that that you have the requisite funding in order to complete on the date specified in the contract.
This question may be naive but I am new to the process as a 1st time buyer of a garden flat in Long Ashton. Do I collect the keys to the property on the completion date from my solicitor? If this is the case, I will appoint a local conveyancing solicitor in Long Ashton?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the seller's conveyancers, and once they have received this, you should be called to receive the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
I can not work out if my mortgage offer requires a lease extension. I have called my Long Ashton bank branch on various occasions and was told it does not affect the mortgage offer and they will lend. My Long Ashton conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend based on their published requirements. Who do I believe?
The conveyancing practitioner has to follow the Council of Mortgage Lenders’ Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am purchasing my first flat in Long Ashton with the aid of help to buy. The sellers refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not to tell my lawyer about the side-deal as it could put at risk my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one close by in Long Ashton I like with a park and station in the vicinity, however it only has 51 years on the lease. I can't really find anything else in Long Ashton suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
I am due to review quotes for conveyancing in Long Ashton from various solicitor and decide on one. Should I instruct them to sit tight until I I have an offer accepted on a flat.
We would recommend that you only request your conveyancer to open a file and order searches once the offer has been accepted on the property particularly as Long Ashton conveyancing searches are not inexpensive.