I am getting closer to an exchange on a house in Queensferry and my parents have sent the 10% deposit to my solicitor. I am now advised that as the deposit has been received from someone other than me my conveyancer needs to disclose this to my lender. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the bank about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your conveyancer is obliged to check with lender to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Have purchased a a detached house in Queensferry , how long should it take for the Land Registry to record the transfer to my name? My Queensferry conveyancing solicitor has been very slow, so I want to be certain that my purchase is registered.
There is nothing unique about conveyancing in Queensferry registration formalities. Rather than based on location, timescales can adjust according to who lodges the application, whether there are errors and whether the Land registry have to notify any other parties. As of today approximately 80% of such applications are fully dealt with within 12 days but some can be subject to longer delays. Historically registration takes place after the purchaser is living at the premises so an expedited registration is not always an essential issue yet if there is a degree of urgency associated with the registration then you or your solicitor can communicate with the Registry to express the reasoning for an expedited registration.
About to purchase a new build apartment in Queensferry. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Queensferry
-
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Due to the advice of my in-laws I had a survey completed on a property in Queensferry in advance of retaining solicitors. I have been told that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies will refuse to give a loan on a flying freehold property.
It depends who your proposed lender is. Lloyds has different requirements for example to Halifax. If you contact us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Queensferry. Conveyancing will be smoother if you use a solicitor in Queensferry especially if they are accustomed to such properties in Queensferry.
My husband and I are FTB’s - agreed a price, but the estate agent has warned us that the owners will only issue a contract if we appoint their preferred lawyers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a local solicitor used to conveyancing in Queensferry
It is improbable the owners are driving this. If they desire ‘a quick sale', turning down a serious purchaser is likely to cause more damage than good. Avoid the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are ready to progress, with finances arranged © you are unencumbered (d) you wish to move quickly (e)however you are going to use your own,trusted Queensferry conveyancing solicitors - not the ones that will give their negotiator at the agency a introducer fee or achieve conveyancing targets set by HQ.
I am on look out for some leasehold conveyancing in Queensferry. Before diving in I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Queensferry - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a garden flat in Queensferry, conveyancing having been completed March 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Queensferry with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2083
With only 58 years remaining on your lease the likely cost is going to span between £22,800 and £26,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.