I am nearing an exchange on a flat in Silsworth and my mum and dad have transferred the exchange deposit to my conveyancing practitioner. I am now informed that as the deposit has not arrived from me my conveyancing practitioner needs to disclose this 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 informed the bank regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your conveyancer is duty bound to check with the bank to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only disclose this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Having sold my house in Silsworth last February but the buyer keeps texting me to say his lawyer needs to hear from mylawyer. What should have happened following completion?
Post completion of your disposal your conveyancer is committed to send the transfer documentation and all additional paperwork to the buyer’s lawyers. Depending on the transaction, your solicitor should also confirm that the mortgage has been paid off to the purchasers conveyancers. There are no post completion formalities just for conveyancing in Silsworth.
five months have gone by since my purchase conveyancing in Silsworth took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying my first flat in Silsworth benefiting from help to buy. The developers refused to move on the amount so I negotiated 6k of additionals instead. The property agent told me not to tell my conveyancer about the deal as it may put at risk my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Is it simple use the search tool to find a conveyancing lawyer in Silsworth on the authorised to act for my lender?
1st choose a bank such as Birmingham Midshires, Barnsley Building Society or Britannia then specify your preferred area e.g. Silsworth. Conveyancing practices in Silsworth and across England and Wales will then be listed.
Frank (my husband) and I may need to let out our Silsworth garden flat for a while due to a career opportunity. We used a Silsworth conveyancing practice in 2003 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Silsworth do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I purchased a garden flat in Silsworth, conveyancing having been completed 5 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Silsworth with over 90 years remaining are worth £170,000. The ground rent is £50 yearly. The lease ends on 21st October 2105
With just 79 years left to run the likely cost is going to range between £7,600 and £8,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to 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.