I am only a couple days away from an exchange on a house in New Invention and my parents have transferred the exchange deposit to my lawyer. I am now informed that as the deposit has not arrived from 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 coming from anyone other than me. I informed the lender 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 legally required to check with the bank to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
How up to date is your search tool for New Invention conveyancing solicitors on the Bank of Ireland conveyancing panel? Do Bank of Ireland send you an updated list?
New Invention conveyancing firms themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
Various online forums that I have visited warn that are the primary cause of obstruction in New Invention house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in New Invention.
I purchased a semi-detached Victorian house in New Invention. Conveyancing lawyer acted for me and Virgin Money. 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 property. I thought I was buying a freehold how can I check?
You should review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in New Invention 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 purchasers. You can also question the situation with your conveyancing practitioner who conducted the conveyancing.
My husband and I are 18 days into a freehold purchase having been recommend to solicitors by the estate agent to handle our conveyancing in New Invention. I am not happy. Could you you assist me in finding new lawyers?
A conveyancer would have to be very poor in order to consider replacing them. Has the mortgage been sent? If so you will need to advise them of the new contact details and have the loan are re-issued. The conveyancer needs to be on the banks panel to avoid escalating fees and frustration. So that should be your first question of the new lawyers. The search tool can help you find a lender approved conveyancer for your conveyancing in New Invention
Having checked my lease I have discovered that there are only Fifty years unexpired on my flat in New Invention. I now want to extend my lease but my landlord is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the landlord. For most situations a specialist may be helpful to conduct investigations and to produce an expert document to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court covering New Invention.
I purchased a ground floor flat in New Invention, conveyancing having been completed 9 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in New Invention with a long lease are worth £260,000. The average or mid-range amount of ground rent is £45 levied per year. The lease comes to an end on 21st October 2099
With just 74 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.