We are nearing an exchange on a property in Marston Moretaine and my mum and dad have transferred the ten percent deposit to my lawyer. I am now told that as the deposit has not arrived from me my solicitor 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 home loan, so is it really appropriate for this now to be an issue?
Your conveyancing practitioner is obliged to check with mortgage company to ensure that they understand 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.
It is a dozen years since I purchased my property in Marston Moretaine. Conveyancing solicitors have just been retained on the sale but I am unable to locate my title deeds. Is this a problem?
Don’t worry too much. First the deeds may be with your lender or they could be in the possession of the solicitor who oversaw the purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. The vast majority of conveyancing in Marston Moretaine relates to registered property but in the rare situation where your home is unregistered it adds to the complexity but is resolvable.
three months have gone by since my purchase conveyancing in Marston Moretaine concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing my first flat in Marston Moretaine with a loan from Halifax. The sellers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not disclose to my conveyancer about the extras as it will impact my loan with Halifax. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I need to retain a conveyancing solicitor for purchase conveyancing in Marston Moretaine. I've discover a site which looks to be the perfect solution If it is possible to get all this stuff completed via phone that would be ideal. 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 own a leasehold flat in Marston Moretaine. Conveyancing and Birmingham Midshires mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Marston Moretaine who previously acted has now retired. What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Marston Moretaine conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Marston Moretaine Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
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How is the lease structured? Are any of leasehold owners in arrears of their service charge liability? Is anyone aware of any major works anticipated that could add a premium to the service costs?