I am getting closer to an exchange on a flat in Wennington and my mum and dad have sent the 10% deposit to my solicitor. I am now advised that as the deposit has not arrived from me my conveyancer needs to make a notification to my mortgage company. I am advised that, 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 advised the lender regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The solicitor is legally required to check 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.
This question may be naive but I am wet behind the ears as FTB of a garden flat in Wennington. Do I pick up the keys to the property on the completion date from my solicitor? If this is the case, I will use a local conveyancing solicitor in Wennington?
On the day of completion you will not be required to go to the conveyancers office in Wennington. Conveyancing lawyers for you will arrange to send the purchase money to the owner’s solicitors, and shortly after the monies have arrived, you will be called to pick up the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
I happen to be the sole beneficiary of my late mum's will with all property in now in my sole name, including the house in Wennington. Conveyancing formalities meant that the Land Registry date was in November. I plan to dispose of the property. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership could be regarded the same way as if I'd bought the house in November. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. Most banks would take a practical view as this requirement is chiefly there to pick up on subsales or the quick reselling of property.
My fiancee and I are in the process of viewing houses in Wennington and I am now considering a potential offer. Is it wise to have a conveyancing practitioner on ‘stand by’? I will be getting a mortgage with Leeds Building Society.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. As you are obtaining a mortgage with Leeds Building Society, make sure you remember to check that your lawyer is on the Leeds Building Society conveyancing panel.
What will a local search reveal regarding the house we're purchasing in Wennington?
Wennington conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company such as Searches UK The local search is essential in every Wennington conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your new home. The search will supply data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
How does the Landlord & Tenant Act 1954 impact my business offices in Wennington and how can you help?
The 1954 Act provides a safeguard to business leaseholders, granting the legal entitlement to make a request to court for a new tenancy and remain in occupation when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Wennington is one of the many locations in which the firms we work with are based
Having checked my lease I have discovered that there are only Seventy years remaining on my flat in Wennington. I now want to extend my lease but my freeholder is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you have done all that could be expected to track down the landlord. On the whole an enquiry agent would be helpful to try and locate and prepare a report to be used as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the application to the County Court overseeing Wennington.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Wennington conveyancing firm to assist?
in cases where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the amount due.
An example of a Lease Extension matter before the tribunal for a Wennington residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The unexpired lease term was 76 years.
I pay a maintenance fee for my appartment in Wennington. As a result of personal circumstances I fell into arrears with payments. The managing agents agreed a settlement schedule but there is still around £1750 currently due.
I want to dispose of the property and I am concerned this may hold me back if I have to discharge the amount due in advance. Do I have to settle before - is this achievable?
You should speak with the lawyer carrying out your Wennington conveyancing but one option could be to agree for the arrears to be attributed to the buyers. The purchase price due would be adjusted to reflect the amount of debt they take on. They could then pay the fees after completion of the sale.