I am approaching an exchange on a property in Morriston and my mum and dad have sent the ten percent deposit to my solicitor. I am now informed that as the deposit has been received from someone other than me my property lawyer needs to make a notification to my bank. 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 disclosed to the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The solicitor is obliged to clarify with the bank to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I own a freehold residence in Morriston yet charged rent, why is this and what is this?
It’s unusual for properties in Morriston and has limited impact for conveyancing in Morriston 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 date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
3 months have elapsed since my purchase conveyancing in Morriston took place. I have checked the Land Registry website which shows that I paid £200,000 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 asset 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.
Are there any apps to assist me to identify a Morriston solicitor on the Britannia conveyancing panel? I have wheels and am prepared to travel upto 10kilometers to meet the lawyer.
Feel free to make use of the facility on this page. Please pick a mortgage company and your location and you will see a number of Morriston conveyancing lawyers based on proximity. We have detailed some Morriston conveyancing firms at the bottom of this page and you can call them to see if they are on the Britannia approved list
I have been sourcing a conveyancing solicitor in Morriston for my purchase. Is it possible to check a firm’s complaints history with the legal regulator?
Members of the public can find documented Solicitor Regulator Association (SRA) determinations stemming from investigations commenced on or after Jan 2008. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The SRA sometimes monitor call for training requirements.
I've recently bought a leasehold property in Morriston. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a basement flat in Morriston, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Morriston with a long lease are worth £196,000. The ground rent is £45 per annum. The lease ceases on 21st October 2090
With only 64 years remaining on your lease the likely cost is going to be between £15,200 and £17,600 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.