My husband and I are nearing an exchange on a flat in Wormwood Scrubs and my mum and dad have sent the ten percent deposit to my conveyancing practitioner. I am now told 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 lender he must advise them that the balance of the purchase price is not just from me. I informed the mortgage company about my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
The solicitor is legally required to check with lender to make sure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I own a freehold house in Wormwood Scrubs but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Wormwood Scrubs and has limited impact for conveyancing in Wormwood Scrubs but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
Can you point me to a directory of HSBC panel solicitors in Wormwood Scrubs on the Building Society Association’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings viewable over the internet. Where you are looking for a Wormwood Scrubs solicitor on the HSBC please make the most of our facility.
We have a mortgage agreed in principle with Barclays. Wormwood Scrubs conveyancing solicitors are instructed. What is the average time that one could expect to receive a mortgage offer from Barclays?
There is no definitive answer here. Have Barclays conducted the valuation? Have you informed Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have decided to exercise my right to buy my property in Wormwood Scrubs off the council. I have a mortgage offer with RBS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with RBS, you will need to appoint a solicitor on the RBS conveyancing panel.
I have been on the look out for a ground for flat up to £245,000 and identified one near me in Wormwood Scrubs I like with amenity areas and station nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Wormwood Scrubs for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan that many years will be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
How straightforward is it to use your search tool to locate a conveyancing solicitor in Wormwood Scrubs on the approved list for my mortgage?
1st select a bank such as Yorkshire Building Society, Bank of Scotland or Aldermore then specify your location a common one being Wormwood Scrubs. Conveyancing organisations in Wormwood Scrubs and beyond will then be listed.
I want to rent out my leasehold apartment in Wormwood Scrubs. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Some leases for properties in Wormwood Scrubs do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I have had difficulty in seeking a lease extension in Wormwood Scrubs. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to decide the price.
An example of a Freehold Enfranchisement decision for a Wormwood Scrubs property is 23 & 23A Collingbourne Road in June 2013. Tribunal was dealing with the assessment of the value of the freehold reversion and determination of the terms of the acquisition pursuant to an Order of District Judge Lightman dated 25 February 2013 vesting the freehold interest in the property in the applicant. The tribunal assessed the price of the freehold (to which any arrears or other sums due to the missing landlord under the leases should be added) at £81,638. This case related to 2 flats. The unexpired term was 64.5 years.