My husband and I are getting closer to an exchange on a flat in Trentham and my parents have sent the 10% deposit to my conveyancer. I am now informed that as the deposit has not arrived from me my solicitor needs to make a notification to my lender. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the lender regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The conveyancing practitioner is duty bound to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
What is the difference between a licensed conveyancer and conveyancing solicitor in Trentham
Two types of professional can conduct conveyancing in Trentham namely licenced conveyancers or solicitors. The two can handle conveyancing services that required to complete the disposal or purchase of property. They are both required to conduct Trentham conveyancing on similar standards and guidelines so you may be safe in the knowledge that your conveyancing will be properly carried out and that all necessary steps should be correctly adhered to.
We previously chose solicitors based in Trentham on the Coventry BS solicitor approved list. They are now charging me a separate charge for handling the Coventry BS mortgage. Is this a supplemental conveyancing fee set by Coventry BS?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your property lawyer may charge a fee for this. The fee is not set by Coventry BS but by your Trentham conveyancing practitioner. Plenty of firms on the Coventry BS panel will charge an ‘acting for lender’ fee and others do not.
I am expecting a AIP from Nottingham this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nottingham recommend any Trentham solicitors on the Nottingham conveyancing panel, or is it better to go independently?
You will need to appoint Trentham solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
I own a renovated Edwardian property in Trentham. Conveyancing practitioner acted for me and Santander. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should review 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 Trentham and other areas of 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 mortgage companies. You can also enquire as to the situation with the conveyancing solicitor who conducted the purchase.
The estate agent has sent us the confirmation of our purchase of a new build flat in Trentham. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Trentham
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There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Over the last few months I have been searching for a flat up to £305k and found one close by in Trentham I like with a park and station in the vicinity, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in Trentham in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan the shortness of the lease may be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
Am I right to be suspicious by estate agents that I am dealing with are encouraging me to use an online conveyancing firm rather than a High Street Trentham conveyancing practice?
As is the case with lots of service providers, often suggestions from relatives can be worth their weight in gold. But there are numerous parties with a vested interest in a conveyancing deal; estate agents, mortgage brokers and banks may put forward lawyers to select. Sometimes these lawyers might be known to one of the organisations as being good in their field, but occasionally there exists a financial incentive behind the endorsement. You have the discretion to appoint your preferred lawyer. Don't forget that some mortgage providers specify a panel list of solicitors you must use for the lender aspect of your house move.