My wife and I are getting closer to an exchange on a house in Shooter's Hill and my parents have transferred the exchange deposit to my conveyancing practitioner. I am now informed that as the deposit has been sent from someone other than me my conveyancer needs to make a notification to my mortgage company. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I advised the bank regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
Your conveyancer is duty bound to check with the bank to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Will lawyers ask for money on account for my conveyancing in Shooter's Hill?
If you are buying a property in Shooter's Hill your solicitor will ask you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is payable against the sale price then this should be asked for shortly prior to exchange of contracts. The closing balance that is due should be sent to your lawyer shortly before completion.
I'm the single recipient of my late mum's will with all property in now in my sole name, including the house in Shooter's Hill. Conveyancing formalities meant that the Land Registry date was in September. I want to move. I understand that there is a CML six month 'rule', which means that my property ownership may be treated the same way as though I had purchased the property in September. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How sensible a view banks take of it, depend on the mortgage company as this requirement principally exists to capture the purchase and immediately sell or the flipping of properties.
After months of negotiation I have agreed a price on an apartment in Shooter's Hill. My financial adviser recommended their conveyancers. I paid an on account payment of £225. Shortly after, the conveyancing practitioner called me to say that they were not on the Leeds Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Leeds Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My sealed bid on a semi in Shooter's Hill has been agreed to, but there is a chain. The sellers have offered on somewhere, however it’s not been accepted yet, and have viewings of other properties in the pipeline. I have selected a nearby conveyancing solicitor in Shooter's Hill. What should be my next step? When should I get the mortgage application with Clydesdale started?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is approx £1k, then survey, Shooter's Hill conveyancing search fees, etc). The first course of action is to ensure that your conveyancer is on the Clydesdale conveyancing panel. Concerning the subsequent phase this very much depends on the circumstances of your transaction, desire for the property and on the state of the market. During a buoyant market many purchasers would apply for a home loan with Clydesdale and pay for the valuation and only if it comes back ok would they ask their solicitor to proceed with searches.
Various online forums that I have visited warn that are a common cause of obstruction in Shooter's Hill conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Shooter's Hill.
My husband and I are novice buyers - had an offer accepted, but the selling agent told us that the owners will only issue a contract if we instruct their recommended conveyancers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a family conveyancer with experience of conveyancing in Shooter's Hill
It is improbable the owners are driving this. If they require ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Bypass the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you are going to instruct your own,trusted Shooter's Hill conveyancing solicitors - as opposed tothe ones that will provide the estate agent a introducer fee or achieve conveyancing figures set by head office.
Back In 2007, I bought a leasehold flat in Shooter's Hill. Conveyancing and Skipton Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Shooter's Hill who previously acted has now retired. Do I pay?
The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. There is no need to instruct a Shooter's Hill conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Shooter's Hill conveyancing firm to help?
if there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to arrive at the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Shooter's Hill residence is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.