My husband and I are only a couple days away from an exchange on a property in Maxton and my parents have sent the exchange deposit to my lawyer. I am now advised that as the deposit has not arrived from me my conveyancing practitioner needs to make a notification to my bank. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the bank concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
Your property lawyer is obliged to check with lender to make sure 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 permit them to, failing which, your lawyer must cease to continue acting.
Forgive me if this question is silly but I am unexperienced as FTB of a two bedroom flat in Maxton. Do I collect the keys to the house on the completion date from my lawyer? If this is the case, I will find a High Street conveyancing solicitor in Maxton?
On the day of completion you will not be required to go to the conveyancers office in Maxton. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's conveyancers, and shortly after the monies have arrived, you will be able to collect the keys from the Estate Agents and move into your new home. Usually this happens between 1 and 3pm.
We previously selected conveyancers with offices in Maxton on the Co-operative solicitor panel. They are now charging me an additional sum for the legal aspects of the Co-operative mortgage. Is this a supplemental conveyancing fee specified by Co-operative?
As unfair as it may appear, as long as it’s in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. The charge is not set by Co-operative but by your Maxton lawyer. Plenty of firms on the Co-operative panel will charge an ‘acting for lender’ fee and others do not.
I am purchasing a property in Maxton. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nationwide be concerned?
Given that you are obtaining a mortgage with Nationwide your lawyer must comply with the conveyancing requirements outlined in Part two of UK Finance Lenders’ Handbook for Nationwide. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and conveyancers are required to report to Nationwide where a lease does not meet these specifications. The conditions relate to the installation of panels on properties nationwide and is not restricted to Maxton.
A colleague recommended that if I am purchasing in Maxton I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Maxton conveyancing searches. It is a large report of about 40 pages, listing and detailing significant information about Maxton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data about Maxton.
I have a terraced Edwardian property in Maxton. Conveyancing lawyer represented me and Clydesdale. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold under the exact same address. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Maxton and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing practitioner who conducted the conveyancing.
I'm buying my first flat in Maxton with a loan from Norwich and Peterborough Building Society. The builders would not budge the amount so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not inform my lawyer about this deal as it could put at risk my loan with the lender. Do I keep my lawyer in the dark?.
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 am intending to rent out my leasehold flat in Maxton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Maxton do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
Maxton Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing
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The answer will be useful as a) areas could result in problems in the building as the common areas may begin to deteriorate if services remain unpaid b) if the tenants have an issue with the managing agents you will want to know about it How many years remain on the lease?