I am nearing an exchange on a flat in Stony Stratford and my parents have transferred the 10% deposit to my lawyer. I am now advised that as the deposit has been sent from someone other than me my conveyancing practitioner needs to make a notification to my lender. I am advised that, 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 lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your conveyancing practitioner is duty bound to check with the bank to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
I own a freehold residence in Stony Stratford but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Stony Stratford and has limited impact for conveyancing in Stony Stratford 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in Stony Stratford. Do I pick up the keys to the house on completion from my solicitor? If so, I will use a local conveyancing solicitor in Stony Stratford?
On the day of completion you will not be required to go to the conveyancers office in Stony Stratford. Your solicitors will arrange to send the completion advance to the owner’s conveyancers, and shortly after the monies have arrived, you will be able to receive the keys from the property Agents and move into your new home. This tends to happen early afternoon.
Is it correct that all Stony Stratford CQS (Conveyancing Quality Scheme) solicitors are on the Yorkshire BS conveyancing panel?
Some major lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
Is there a list of UBS panel conveyancers in Stony Stratford on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. A small selection of mortgage companies make their panel listings available on the web. Where you are seeking to appoint a Stony Stratford solicitor on the UBS please make the most of our facility.
I am using a search engine for the words conveyancing in Stony Stratford it shows results of many conveyancersin the area. With so much choice what is the best way to find the suitable property lawyer for my move?
The best way of finding a suitable conveyancer is through a personal testimonial, so seek the counsel of friends and relatives who have purchased a property in Stony Stratford or the local estate agent or financial adviser. Costs for conveyancing in Stony Stratford vary, so it's advisable to secure at least three fee estimates from different solicitors. Be sure to seek confirmation that the fees are fixed.
I want to sublet my leasehold apartment in Stony Stratford. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Even though your previous Stony Stratford conveyancing lawyer is no longer around you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the deeds are silent, subletting is allowed. There may be a precondition that you need to seek consent via your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet without first obtaining consent. The consent should not be unreasonably withheld. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.
Stony Stratford Leasehold Conveyancing - A selection of Queries before Purchasing
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Best to be warned if redecorating or some other significant cost is due in the foreseeable future to be shared by the leasehold owners and may well dramatically increase the the service costs or require a specific invoice. Are there any major works anticipated that could increase the maintenance costs? What restrictions exist in the Stony Stratford Lease?
Me and my partner are planning to purchase a three bedroom flatin Stony Stratford with a loan from a lender. We have selected a lawyer in Stony Stratford but our bank inform us now that she’s not on their "panel". Apparently we need to choose one of the our bank panel firms or stay with our Stony Stratford solicitor and incur the extra legals for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that our mortgage company use our Stony Stratford lawyer?
Unfortunately,no. The lender home loan offered to you is subject to conditions, one of which will be that solicitors will on the mortgage company's conveyancing panel. Until recently, most mortgage companies had open panels, including almost all conveyancing solicitors in Stony Stratford : a mortgagee 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 your lender.