My wife and I are approaching an exchange on a house in Moor Park and my mum and dad have transferred the exchange deposit to my conveyancer. I am now told that as the deposit has been sent from someone other than me my conveyancing practitioner needs to disclose this to my mortgage company. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I advised the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your solicitor 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 notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
I am the registered owner of a freehold residence in Moor Park but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Moor Park and has limited impact for conveyancing in Moor Park but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
Is it necessary to take out insurance to cover chancel repairs when purchasing a house in Moor Park?
Unless a previous purchase of the premises took place after 12 October 2013 you can take it that conveyancing practitioners handling conveyancing in Moor Park to remain encouraging a chancel search and or chancel repair liability insurance.
Are there restrictive covenants that are commonly picked up during conveyancing in Moor Park?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Moor Park. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
We're novice buyers - had an offer accepted, but the agent advised that the owners will only issue a contract if we use the agent's chosen conveyancers as they need an ‘expedited deal’. My instinct tells me that we should use a family solicitor who is accustomed to conveyancing in Moor Park
It is unlikely the owners are behind this. Should the vendor desire ‘a quick sale', alienating a genuine buyer is going to damage their objectives. Avoid the agents and go straight to the owners and explain that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are chain free (d) you wish to move quickly (e)but you are going to instruct your own,trusted Moor Park conveyancing solicitors - not the ones that will earn their negotiator at the agency a commission or achieve conveyancing thresholds pre-set by senior management.
I am hoping to sign contracts shortly on a basement flat in Moor Park. Conveyancing lawyers have said that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Moor Park should include some of the following:
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What the implications are if you are in breach of your lease terms? if lease provides for a sinking fund for major repairs? Responsibility to repair and maintain the block. It is important for you to know who is liable for the repair and maintenance of all parts of the block and estate Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? You should have a good understanding of the insurance provisions
I am the proprietor of a first flat in Moor Park. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?
in cases where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to decide the price payable.
An example of a Lease Extension decision for a Moor Park residence is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case affected 3 flats. The unexpired lease term was 71 years.