My wife and I are getting closer to an exchange on a property in St Luke's and my parents have transferred the 10% deposit to my solicitor. I am now informed that as the deposit has been sent from someone other than me my conveyancing practitioner needs to disclose this to my bank. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from 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?
Your lawyer is legally required to check with lender to ensure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
It is is a decade since I acquired my home in St Luke's. Conveyancing lawyers have now been appointed on the sale but I am unable to find my title documents. Is this a major issue?
You need not be too concerned. First there is a chance that the deeds will be with your lender or they may be in the possession of the conveyancers who oversaw the purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors procuring up to date copy of the land registers. Nearly all conveyancing in St Luke's relates to registered property but in the rare situation where your home is not registered it is more of a problem but is resolvable.
we are a couple who are purchasing a newbuild flat in St Luke's with a homeloan from Lloyds TSB Bank.We use our St Luke's conveyancing lawyer but Lloyds TSB Bank says his firm is not listed on their "panel". we are left little option but to use a Lloyds TSB Bank panel firm or keep our local solicitor and fork out for a Lloyds TSB Bank panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Lloyds TSB Bank use our lawyer?
No, not really. The home loan offered to you contains various provisions, a common one being that solicitors needs to be on the Lloyds TSB Bank conveyancing panel. in the past, most banks had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Lloyds TSB Bank
What can a local search inform me about the property I am purchasing in St Luke's?
St Luke's conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search company such as Searchflow The local search is essential in every St Luke's conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your new home. The search will provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
My business partner and I are looking to take an assignment of a lease of a shop on a shopping parade. Can you recommend lawyers offering fixed fees for non-domestic conveyancing in St Luke's for under £2000?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in St Luke's, including the sale and acquisition of businesses as well as simply premises. If you are looking to buy or lease a shop, pub, restaurant, office, retail unit or a whole business we will find you the right firm. As for the fees these will vary based on the structure and nuances of the proposed transaction. Please provide us with your details or call us so that we can supply you with comprehensive commercial conveyancing calculation.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in St Luke's. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in St Luke's ?
The majority of houses in St Luke's are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. We note that you are buying in St Luke's so you should seriously consider shopping around for a St Luke's conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer should report to you on the legal implications.
We have reached the end of our tether in seeking a lease extension in St Luke's. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the premium.
An example of a Lease Extension matter before the tribunal for a St Luke's premises is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case affected 2 flats. The number of years remaining on the existing lease(s) was 72.39 years.