My wife and I are getting closer to an exchange on a flat in Wembley Central and my parents have transferred the 10% deposit to my solicitor. I am now informed that as the deposit has been sent from someone other than me my property lawyer needs to make a notification to my lender. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company about my parents' contribution when I applied for the home loan, so is it really necessary 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 funds. The solicitor can only notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
I am purchasing my first flat in Wembley Central with a mortgage from TSB. The developers refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not to tell my solicitor about the side-deal as it would impact my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
How do I search for a Wembley Central solicitor on the Godiva Mortgages Ltd conveyancing panel? I have wheels and am prepared to travel upto 10miles to meet the lawyer.
Feel free to make use of the search on this website. Please choose the lender and your location and you will see a number of Wembley Central conveyancing lawyers based on proximity. We have detailed some Wembley Central conveyancing firms at the bottom of this page and you can ring them to check whether they are on the Godiva Mortgages Ltd panel
Am I best advised to choose a Wembley Central conveyancing practitioner in close proximity to the house I am hoping to buy? I have an old university friend who can execute the conveyancing however they are based 300miles away.
The benefit of a high street Wembley Central conveyancing firm is that you can attend the office to sign documents, hand in your identification documents and pester them where appropriate. Having local Wembley Central know how is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and on the whole were impressed that should trump using an unknown Wembley Central conveyancing solicitor just because they are based in the area.
I am a negotiator for a reputable estate agent office in Wembley Central where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Wembley Central conveyancing solicitors. Can you clarify whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Wembley Central conveyancing firm to help?
Absolutely. We can put you in touch with a Wembley Central conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Wembley Central residence is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case related to 1 flat. The number of years remaining on the existing lease(s) was 74 years.
My parents are unable to locate their Wembley Central land registry title on the online search facility. They have a vague memory back in the 70’s when they acquired the property there were complications concerning the post code not being recognised in some systems.
Nearly all residences in Wembley Central should show up. Have you tried a search to simply the postcode. Normally it will identify all the properties within that postcode. Assuming the property is registered it will be there with a title number. If they bought back in the 60’s it's conceivable it may be not yet registered. The address could still be revealed but with the title number shown 'na'. In this scenario you will need to track down the original title documentation which may be with your parent’s mortgage company.