My partner and I are only a couple days away from an exchange on a flat in Seven Kings and my parents have transferred the ten percent deposit to my conveyancing practitioner. I am now told that as the deposit has been received from someone other than me my solicitor needs to make a notification to my bank. 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 informed the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?
The property lawyer is obliged to check with lender to make sure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I own a freehold property in Seven Kings yet invoiced for rent, why is this and what is this?
It is rare for properties in Seven Kings and has limited impact for conveyancing in Seven Kings but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
My aunt passed away 10 months ago and as sole heir and executor I was left the property in Seven Kings. The house had a small mortgage left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Co-operative, pay off the mortgage. Is this allowed?
Where you intend to re-mortgage then Co-operative will require that you use a conveyancer on the Co-operative conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Co-operative conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Co-operative mortgage is registered as a charge at the Land Registry.
Given that I am about to spend over three hundred thousand on a terraced house in Seven Kings I would like to talk to a lawyer regarding thehouse move before giving the go ahead to the firm. Can this be arranged?
Absolutely - it is our preference to talk to you we do not take any clients on without you liaising with the lawyer who will be conducting your conveyancing in Seven Kings.There is no ‘factory style conveyancing’ - every client is an important individual, not a case reference. The solicitors that we put you in touch with believe that the figure you are quoted for your conveyancing in Seven Kings should be the amount on the final invoice that you end up paying.
I've recently bought a leasehold property in Seven Kings. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
My wife and I have hit a brick wall in seeking a lease extension in Seven Kings. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a Seven Kings conveyancing firm who can help.
An example of a Lease Extension decision for a Seven Kings premises is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 61.36 years.
I have been Googling for Seven Kings competitive conveyancing fees. Can I be assured that all the Seven Kings practices that are listed on your website are on the bank conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have advised us that they are on the lender panel and agreed to advise us to take down their listing in the event of removal off of the bank panel. To date we have not been informed by either a lender or a member of the public that the data about a specific Seven Kings firm being on the lender conveyancing panel is not accurate.