My partner and I are only a couple days away from an exchange on a property in Standish and my parents have sent the ten percent 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 bank. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the bank about my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The conveyancer is duty bound to clarify with the bank to make sure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
My husband and I are hoping to buy a purpose built apartment in Standish with a loan from Nottingham Building Society.We have a Standish conveyancing practitioner but Nottingham Building Society says her practice is not on their "panel". We have to appoint a Nottingham Building Society panel lawyer or retain our local solicitor and fork out for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Nottingham Building Society use our lawyer?
Unfortunately,no. The home loan issued to you contains terms and conditions, one of which will be that lawyers must be on the Nottingham Building Society approved list. Until recently, most lenders 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Nottingham Building Society
I'm remortgaging my primary home to a buy to let loan with Nationwide Building Society and I will use the rest of the raised equity as a deposit on further house. The area we are interested in is Standish. Will your conveyancers be able to act for both sets of lenders and link together the transactions?
Make use of our search tool on this page to be sure that the conveyancers are approved by both lenders. Having checked that they are your solicitor should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you conveyancer and make apparent your expectations and needs.
As co-executor for the estate of my father I am disposing of a residence in Newport but live in Standish. My conveyancer (based 300 miles from mehas requested that I execute a stat dec ahead of the transaction finalising. Can you recommend a conveyancing practitioner in Standish who can witness this legal document for me?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are based in Standish
I would like to rent out my leasehold apartment in Standish. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Some leases for properties in Standish do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience dictates 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 bought a ground floor flat in Standish, conveyancing formalities finalised March 2009. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Standish with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 levied per year. The lease expires on 21st October 2090
You have 65 years unexpired we estimate the price of your lease extension to span between £13,300 and £15,400 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
I am purchasing a house with all finances in place. I have provided solicitor with 2 distinct forms of photographic ID, bank statement, endless utility bills. Now he wants a copy from a probate lawyer acknowledging that the funds are in order and that it has come from inheritance and not dealing E's in Ibiza.
In today’s world you will not be able to complete any Standish conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Proof of your source of funds is required under Money Laundering laws.