My husband and I are nearing an exchange on a property in Tamworth and my parents have sent the exchange deposit to my conveyancer. I am now advised 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 advise them that the balance of the purchase price is coming from anyone other than me. I advised the bank concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your solicitor is duty bound to clarify with mortgage company to make sure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Just acquired a terraced house in Tamworth , how long will it take for the Land Registry to record the transfer to my name? My Tamworth conveyancing solicitor works at snail pace, so I want to be certain the land registry aspects are addressed.
As far as conveyancing in Tamworth is concerned, registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timescales can adjust according to who lodges the application, whether there are errors and if the Land registry communicate with any third parties. At present in the region of three quarters of submission are fully addressed within 12 days but some can be subject to protracted delays. Registration takes place after the purchaser has moved in to the property thus 'speed' is not usually primary concern but where there is a degree of urgency associated with the registration then you or your lawyers can communicate with the Registry to express the reasoning for an expedited registration.
I opted to have a survey done on a house in Tamworth prior to retaining solicitors. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some banks will not grant a loan on this type of home.
It varies from the lender to lender. Santander has different requirements for example to Halifax. Should you wish to call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Tamworth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tamworth to see if the conveyancing will be more expensive.
My cousin has suggested that I instruct his conveyancers in Tamworth. Should I use them?
There are no two ways about it it’s preferable to choose a conveyancing solicitor is to have guidance from friends or family who have actually experience in using the solicitor you're contemplating using.
I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Tamworth. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Tamworth ?
Most houses in Tamworth are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Tamworth in which case you should be looking for a Tamworth conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your solicitor should appraise you on the various issues.
I purchased a leasehold flat in Tamworth, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Tamworth with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2077
With 52 years remaining on your lease we estimate the price of your lease extension to be between £29,500 and £34,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
My aim is to purchase a ground floor apartment in Tamworth. Conveyancing solicitor is awaiting, from the owner, building insurance paperwork. I was told today I was informed that the seller must send the insurance documents for the flat above as well. Why would my conveyancer need to check the insurance for the other flat? Is it really required? We have been in hold for the previous 3 weeks…
It is not impossible in leasehold conveyancing in Tamworth to discover Conveyancing in Tamworth in a minority of cases reveals that the lease provides for the leasehold owners to insure their individual flats rather than the freeholder insuring the entire building - which is clearly better. You should check with your conveyancing practitioner but it would seem that your solicitor is seeking to establish that the entire building is insured. Insuring your apartment is no help when it comes to rebuilding after a fire if the 1st floor cannot be rebuilt due to lack of insurance.