My partner and I are getting closer to an exchange on a property in Woodhouse and Handsworth and my mum and dad have sent the ten percent deposit to my lawyer. I am now advised that as the deposit has been sent from someone other than me my conveyancer needs to disclose this to my mortgage company. I am advised that, in also acting for the lender he must advise 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 home loan, so is it really necessary for him to raise this?
The conveyancer is obliged to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Should conveyancers request money up-front for conveyancing in Woodhouse and Handsworth?
If you are buying a property in Woodhouse and Handsworth your solicitor will ask you place them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the down payment is payable against the sale price then this should be required immediately in advance of exchange of contracts. The final balance that is needed should be transferred shortly before completion.
Various internet forums that I have visited warn that are the number one reason for stalling in Woodhouse and Handsworth conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Woodhouse and Handsworth.
In my capacity as executor for the estate of my father I am disposing of a residence in Cardiff but reside in Woodhouse and Handsworth. My solicitor (who is 200 miles from meneeds me to execute a statutory declaration before completion. Can you recommend a conveyancing lawyer in Woodhouse and Handsworth who can attest this legal document for me?
strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are Woodhouse and Handsworth based
My wife and I purchased a leasehold flat in Woodhouse and Handsworth. Conveyancing and Birmingham Midshires mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Woodhouse and Handsworth who previously acted has now retired. Any advice?
First make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Woodhouse and Handsworth conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a basement flat in Woodhouse and Handsworth, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar properties in Woodhouse and Handsworth with over 90 years remaining are worth £216,000. The ground rent is £50 yearly. The lease runs out on 21st October 2093
With just 69 years unexpired the likely cost is going to be between £9,500 and £11,000 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. 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. Please do not take any other action based on this information before getting professional advice.
How do I find a Woodhouse and Handsworth conveyancing solicitor on the bank conveyancing panel? I have a car and am prepared to travel up to 15miles to attend the solicitor.
Feel free to make use of the find a conveyancing panel tool on this page. Please choose the lender and your location, in this case Woodhouse and Handsworth and you will see a number of lawyer located nearest Woodhouse and Handsworth. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the bank solicitor panel.