I am getting closer to an exchange on a flat in New Mills and my parents have transferred the ten percent deposit to my conveyancer. I am now advised that as the deposit has been sent from someone other than me my solicitor 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 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 lawyer is legally required to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I need some quick conveyancing in New Mills as I am under an ultimatum to sign on the dotted line within 4 weeks. A mortgage is not required. Is it possible to avoid the conveyancing searches to save fees and time?
If.Given you are are a mortgage free purchaser you have the choice not to have searches carried out although no solicitor would advise that you don't. Drawing on years of experience of conveyancing in New Mills the following are examples of issues that can crop up and therefore impact the marketability of the property: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Railway Schemes,...
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one round the corner in New Mills I like with a park and station in the vicinity, however it's only got 52 years unexpired on the lease. There is not much else in New Mills suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
Given that I will soon part with £400,000 on a garden flat in New Mills I wish to have a conversation with the conveyancer about myconveyancing in advance of giving the go ahead to the firm. Can this be arranged?
We could not agree more - we would be pleased to talk to you we do not take any clients on without you liaising with the solicitor who will be conducting your property ownership legalities in New Mills.There is no ‘factory style conveyancing’ - each client is an important person, not a matter number. The solicitors that we put you in touch with believe that the fees you are provided with for your conveyancing in New Mills should be the amount on the final invoice that you are charged.
As co-executor for the estate of my grandmother I am selling a property in Cardiff but I am based in New Mills. My lawyer (approximately 200 kilometers awayhas requested that I sign a statutory declaration prior to completion. Could you suggest a conveyancing solicitor in New Mills to witness this legal document for me?
strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are based in New Mills
Last May I purchased a leasehold property in New Mills. Am I liable to pay service charges for periods before 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. However, your landlord may still be able to take action to forfeit the lease. A critical element 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 am the registered owner of a leasehold flat in New Mills, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in New Mills with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 yearly. The lease comes to an end on 21st October 2078
You have 53 years remaining on your lease we estimate the price of your lease extension to span between £27,600 and £31,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.