My husband and I are nearing an exchange on a property in Oundle and my mum and dad have transferred the exchange deposit to my property lawyer. 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. 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 disclosed to the bank regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?
Your conveyancing practitioner is obliged to clarify with lender to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
We are getting a further advance on our mortgage from Nottingham as we intend to conduct renovations to our house in Oundle. Are we obliged to choose a local Oundle solicitor on the Nottingham conveyancing panel to handle the paperwork?
Nottingham would not normally appoint firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham panel.
I am currently in the process of buying my council flat in Oundle. I have a mortgage offer with HSBC. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
The mortgage over my property is with UBS for my property in Oundle. Conveyancing was finalised a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform UBS?
Your original mortgage agreement with UBS will provide that you need their approval prior to letting out your property as this is likely to be a breach of UBS’s mortgage conditions. It may be that UBS will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. You need not do this via a UBS conveyancing panel firm.
My partner and I are planning on selling our property in Oundle and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any high street Oundle conveyancer would know that there is no such problem. It does beg the question why the purchasers are using an internet conveyancing outfit rather than a conveyancing solicitor in Oundle. We have lived in Oundle for 4 years we know of no issue. Should we contact our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing lawyer already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
It has been 2 months since my purchase conveyancing in Oundle completed. I have checked the Land Registry site 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 premises 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.
I need to instruct a conveyancing solicitor for some conveyancing in Oundle. I happened to land on a web site which seems to have the perfect offering If it is possible to get all the legals completed via email that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
All being well we will complete the disposal of our £375,000 flat in Oundle next week. The managing agents has quoted £360 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Oundle?
Oundle conveyancing on leasehold apartments more often than not necessitates the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be content to do so. They are entitled to charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge levied by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality you have little choice but to pay whatever is requested of you should you wish to sell the property.
Oundle Leasehold Conveyancing - A selection of Questions you should ask Prior to buying
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Who takes responsibility for maintaining and repairing the block? Where a Oundle lease has less than eighty years it will have adverse implications on the salability of the flat. It is worth checking with your bank that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will almost definitely need a lease extension at some point and you need to have some idea of what this will be. For most Oundlelease extensions you would need to own the property for 24 months in order to be entitled to carry out a lease extension.