My partner and I are nearing an exchange on a flat in Rowlands Gill and my mum and dad have sent the ten percent deposit to my lawyer. I am now told that as the deposit has been received from someone other than me my conveyancing practitioner needs to make a notification to my bank. Apparently, 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 concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your property lawyer is duty bound to check with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Can you explain why leasehold purchase conveyancing in Rowlands Gill costs more?
Rowlands Gill leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
We had selected conveyancers based in Rowlands Gill on the Co-operative solicitor approved list. They have just invoiced me an additional charge for dealing with the Co-operative mortgage. Is this a supplemental conveyancing fee set by Co-operative?
Provided it is contained in their Terms and Conditions or Quote then yes your property lawyer is entitled to charge a fee for this. This fee is not dictated by Co-operative but by your Rowlands Gill solicitor. Plenty of firms on the Co-operative panel will levy an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
My partner and I are spending time viewing houses in Rowlands Gill and I am now considering a potential offer. Should I already have a solicitor appointed at this stage? I intend to finance via a home loan with Aldermore.
You should start requesting conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. Given that you are seeking a mortgage with Aldermore, ask your prospective lawyers if they are on the Aldermore conveyancing panel otherwise they can't do the mortgage legal work.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Rowlands Gill conveyancer on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I am purchasing a new build house in Rowlands Gill with a mortgage from Yorkshire Building Society. The builders refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not to tell my lawyer about this side-deal as it would adversely affect my mortgage with Yorkshire Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What is different about your site and alternative online quote calculators for conveyancing in Rowlands Gill?
At this site obtain a conveyancing quote via a Solicitor or Licensed Conveyancer that understands the nuances for your conveyancing in Rowlands Gill. As opposed to estate agents and brokerage sites we are not in the business of charging firms a commission if you appoint them for your home move in Rowlands Gill
Can you offer any advice when it comes to finding a Rowlands Gill conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Rowlands Gill conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggest that you make enquires with several firms including non Rowlands Gill conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:
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How many lease extensions have they conducted in Rowlands Gill in the last twenty four months? How experienced is the firm with lease extension legislation?
I purchased a garden flat in Rowlands Gill, conveyancing was carried out December 1997. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Rowlands Gill with a long lease are worth £201,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2090
You have 65 years left to run we estimate the premium for your lease extension to range between £13,300 and £15,400 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.