My partner and I are only a couple days away from an exchange on a flat in Padstow and my parents have sent the exchange deposit to my conveyancer. I am now advised that as the deposit has been sent from someone other than me my conveyancing practitioner needs to disclose this to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I informed the bank about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your lawyer is obliged to check with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
What is the difference between a licensed conveyancer and conveyancing solicitor in Padstow
There are many registered licenced Conveyancers in Padstow and Solicitor firms in Padstow offering conveyancing We would stress that both are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. The two can handle associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Forgive me if this question is silly but I am new to the home buying as a first time buyer of a two bedroom flat in Padstow. Do I pick up the keys to the premises on the completion date from my conveyancer? If so, I will use a High Street conveyancing solicitor in Padstow?
On the day of completion you do not need to go to the conveyancers office in Padstow. Your solicitors will arrange to send the completion advance to the seller's conveyancers, and once they have received this, you will be called to receive the keys from the selling Agents and move into your new home. Usually this happens between 1 and 3pm.
Intending to buy a apartment in Padstow. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Padstow conveyancer is on the UBS conveyancing panel.
What can a local search tell me concerning the property my wife and I purchasing in Padstow?
Padstow conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search organisations such as Searchflow The local search plays a central role in many a Padstow conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your new home. The search will reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
The deeds to our property can not be found. The conveyancers who dealt with the conveyancing in Padstow 4 years ago no longer exist. What are my options?
Gone are the days when you need to have the physical official documentation to evidence that you are the registered proprietor of land or premises, given that the Land Registry have everything they need in a digital format.
How do I locate a Padstow law firm on the Lloyds TSB Bank conveyancing panel? I have wheels and am happy to travel upto 25kilometers to meet the solicitor.
You can use the search on this page. Please select a mortgage company and your location and you will see a number of Padstow conveyancing lawyers located nearest you. We have listed some Padstow conveyancing firms towards the end of this page and you can call them to check if they are on the Lloyds TSB Bank approved list
I am looking at a two maisonettes in Padstow which have in the region of forty five years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area.
I bought a 1 bedroom flat in Padstow, conveyancing was carried out October 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Padstow with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease finishes on 21st October 2080
With only 55 years remaining on your lease we estimate the price of your lease extension to span between £31,400 and £36,200 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.