We are only a couple days away from an exchange on a house in Riddlesdown and my mum and dad have sent the exchange deposit to my conveyancing practitioner. I am now informed that as the deposit has not come from me my property lawyer needs to make a notification to my lender. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
Your solicitor is obliged to clarify with lender to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
As a novice what is the most important advice you can impart regarding purchase conveyancing in Riddlesdown?
Not many law firms or advisers will tell you this but conveyancing in Riddlesdown and elsewhere in England and Wales is an adversarial experience. In other words, when it comes to conveyancing there is lots of room for friction between you and other parties involved in the transaction. For instance, the seller, selling agent and even potentially your lender. Choosing a lawyer for your conveyancing in Riddlesdown an important selection as your conveyancer is your adviser, and is the ONE party in the transaction whose interest is to act in your best interests and to protect you.
Every so often a potential adversary may attempt to persuade you that you should follow their advice. For example, the property agent may claim to be assisting by claiming that your conveyancer is slow. Or your mortgage broker may try to convince you to do take action that is against your conveyancers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
This question may be naive but I am unseasoned as a first time buyer of a two bedroom flat in Riddlesdown. Do I collect the keys to the house on completion from my lawyer? If this is the case, I will instruct a local conveyancing solicitor in Riddlesdown?
On the day of completion you do not need to go to the conveyancers office in Riddlesdown. Conveyancing lawyers for you will arrange to send the purchase money to the owner’s conveyancers, and shortly after the monies have arrived, you will be called to collect the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
Planning on purchasing a flat in Riddlesdown. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Riddlesdown conveyancing practitioner is on the Principality conveyancing panel.
Principality have agreed my home loan in principle, my offer on a flat in Riddlesdown has been agreed to, what happens next?
The estate agent will want to know who your solicitors are (be sure the conveyancers are on the bank’s panel). Telephone Principality or your broker and finalise any appropriate paperwork. Principality will appoint a valuer who will get in contact with the selling agent or owners to arrange a time for the valuation to take place. Once carried out (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Principality will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Riddlesdown.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what should have been a quick, chain free conveyancing. Riddlesdown is where the house is located. Can you offer any guidance?
Flying freeholds in Riddlesdown are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Riddlesdown you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Riddlesdown may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Having checked my lease I have discovered that there are only Seventy years remaining on my flat in Riddlesdown. I am keen to get lease extension but my landlord is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you have used your best endeavours to locate the lessor. On the whole an enquiry agent may be helpful to try and locate and prepare an expert document to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Riddlesdown.
After years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Riddlesdown. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to judgment on the amount due.
An example of a Freehold Enfranchisement case for a Riddlesdown flat is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case related to 6 flats. The unexpired term was 78.32 years.
I happen to be an executor of my recently deceased mum’s Will, with a property in Riddlesdown which is to be marketed. The house is unregistered at HMLR and I'm advised that some estate agents will insist that it is completed before they will move forward. What's the mechanism for this?
In the circumstances that you have set out it seems prudent to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.