Having been recommended your company we were about to appoint conveyancing solicitor in Yeovil found by you but have come across alternative estimates on the internet look less expensive – why is this?
There are numerous conveyancing organisations marketing theoretically looks to be very low prices. Our recommendation is to think long and hard as to how much you respect your own move to want to be penny wise pound foolish concerning the quality of the legal work. Many of them accentuate a bargain quote to tease you but hide extra charges in the small print..
We are nearing an exchange on a property in Yeovil and my parents have transferred the ten percent deposit to my property lawyer. I am now advised that as the deposit has been received from someone other than me my solicitor needs to make a notification to my lender. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The solicitor is duty bound to clarify with lender to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Do lawyers ask for money on account for my conveyancing in Yeovil?
If you are buying a property in Yeovil your solicitor will request that you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the total price then this will be needed immediately before exchange of contracts. Any further balance that is due will be payable shortly before completion.
My aunt passed away last year and as sole heir and executor I was left the house in Yeovil. The house had a relatively small loan remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this allowed?
If you intend to re-mortgage then Lloyds will insist on your using a conveyancer on the Lloyds conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Lloyds conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Lloyds mortgage is registered as a charge at the Land Registry.
My wife and I have a semi-detached Georgian property in Yeovil. Conveyancing solicitor represented me and Aldermore. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register as there may be 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 Yeovil and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing practitioner who conducted the conveyancing.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one close by in Yeovil I like with a park and railway links nearby, however it only has 52 years on the lease. I can't really find anything else in Yeovil for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan that many years will likely be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.