My husband and I are only a couple days away from an exchange on a property in Wootton and my mum and dad have sent the 10% deposit to my conveyancer. I am now informed that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I advised the mortgage company about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your solicitor is obliged to clarify with lender to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
As someone not used to the Wootton conveyancing process what’s your top tip you can impart concerning the ownership transfer in Wootton
Not many law firms or advisers will tell you this but conveyancing in Wootton or throughout Northamptonshire is an adversarial process. In other words, when it comes to conveyancing there exists lots of room for confrontation between you and other parties involved in the home moving process. For example, the vendor, estate agent and sometimes the mortgage company. Selecting a law firm for your conveyancing in Wootton an important selection as your conveyancer is your adviser, and is the ONE party in the legal process whose role it is to protect your legal interests and to protect you.
We are witnessing a definite ongoing adversarial element to conveyancing- someone has to be at fault for the process taking so long. We recommend that you should always trust your conveyancer ahead of all other players in the conveyancing process.
We just had an offer accepted to purchase with Coventry BS. I dropped in a couple of local practices but am struggling to find a Wootton conveyancing firm on the Coventry BS approved list. Can you help?
Feel free to take advantage of the find a lender approved solicitor tool on this page. Pick the lender and type Wootton or your location and you will discover a number of lawyer offices in Wootton or by proximity to you.
I know that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when acquiring a house in Wootton? or I am told that there is historic law that could mean that homeowners residing in a parish church boundary may be liable to pay for repairs towards the chancel in proximity to the church. Is this a legitimate concern for conveyancing in Wootton?
Unless a previous acquisition of the premises took place after 12 October 2013 you may assume that conveyancing practitioners handling conveyancing in Wootton to remain encouraging a chancel search and or chancel repair liability policy.
Last December I purchased a leasehold property in Wootton. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a 1st floor flat in Wootton, conveyancing was carried out 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Wootton with a long lease are worth £180,000. The ground rent is £65 per annum. The lease terminates on 21st October 2083
With just 58 years unexpired the likely cost is going to span between £21,900 and £25,200 plus 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 without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
There are numerous properties in Wootton on unadopted lanes. We are buying one such property. What are the pros and cons of buying a property on a privately owned road?
Wootton conveyancing lawyers are familiar with conveyancing houseson unadopted roads. Your property lawyer should investigate Land Registry data to identify any rights or responsibilities. In many cases there is a management company (wholly owned by residents) that owners make annual payments to maintain the road. Where one exists, the road will likely be maintained and appear nicer than council adopted.