My husband and I are only a couple days away from an exchange on a house in Storrington and my parents have sent the ten percent deposit to my lawyer. I am now informed that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I advised the lender about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
Your solicitor is obliged to clarify with mortgage company to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Does this mean I have to use their panel conveyancer as I would prefer to appoint a Storrington based conveyancing firm?
Do check but the chances are that appoint one of their panel lawyers if you accept the "fee-free" deal. Call the bank to check if they offer you a monetary alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in Storrington.
I own a renovated Victorian property in Storrington. Conveyancing practitioner represented me and Virgin Money. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Storrington and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with your conveyancing solicitor who conducted the work.
How does conveyancing in Storrington differ for newly converted properties?
Most buyers of new build or newly converted property in Storrington contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is built. This is because builders in Storrington tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Storrington or who has acted in the same development.
What tools are available to locate a Storrington solicitor on the Platform Home Loans Ltd conveyancing panel? I drive a motor bike and am prepared to travel upto 20miles to meet the solicitor.
Feel free to make use of the tool on this page. Please select a lender and your location and you will see a number of Storrington conveyancing lawyers locally. We have detailed some Storrington conveyancing firms at the bottom of this page and you can telephone them to see if they are on the Platform Home Loans Ltd member panel
There are only 72 years unexpired on my flat in Storrington. I need to get lease extension but my freeholder is can not be found. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to locate the landlord. On the whole a specialist should be useful to try and locate and prepare a report to be used as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the application to the County Court overseeing Storrington.
Storrington Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
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Most Storrington leasehold apartments will have a service bill for the upkeep of the block set on behalf of the freeholder. Should you purchase the apartment you will have to pay this contribution, usually quarterly during the year. This could differ from a couple of hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all likelihood there will be a rentcharge to be met yearly, this is usually not a significant figure, say around £25-£75 but you need to check it because on occasion it can be many hundreds of pounds. It is important to be aware whether fixing the lift or some other major work is due in the near future to be shared between the leaseholders and will dramatically increase the the maintenance charges or require a specific payment. On the whole the cost for major works are not incorporated into the service charges, although a few managing agents in Storrington require leaseholders to pay into a reserve fund and this is used to offset against larger works.