My wife and I are getting closer to an exchange on a house in Ampthill and my parents have transferred the exchange deposit to my conveyancer. I am now advised that as the deposit has been received from someone other than me my conveyancer needs to disclose this to my bank. 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 disclosed to the bank regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your lawyer is obliged to check with mortgage company to ensure that they are aware 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.
I own a freehold premises in Ampthill but nevertheless charged rent, why is this and what is this?
It is rare for properties in Ampthill and has limited impact for conveyancing in Ampthill 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
Various web forums that I have come across warn that are a common reason for delay in Ampthill conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of slowing down conveyancing in Ampthill.
Have completed on a a semi-detached house in Ampthill , how long should it take for the Land Registry to register the transfer to my name? My Ampthill conveyancing solicitor has been very slow, so I want to be certain that my name is registered.
As far as conveyancing in Ampthill is concerned, registration is no faster or slower than anywhere else in the country. Rather than based on location, timescales can differ subject to who lodges the application, whether there are errors and if the Land registry need to notify any third parties. At present in the region of 80% of submission are completed in less than three weeks but some can be subject to protracted hold-ups. Registration occurs after the buyer has moved in to the property therefore an expedited registration is not typically primary concern yet where it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for an expedited registration.
Hoping to buy a property located in Ampthill and I am already nervous. I couldn't find anything specific about Ampthill. Conveyancing will be needed in due course but do you know about the Ampthill area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Ampthill. In the meantime here are some basic statistics that we found
Is there a difference between surveying and conveyancing in Ampthill?
Conveyancing - in Ampthill or anywhere in England and Wales - is the legal term given to transferring legal title of property from one person to another. It therefore includes the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are purchasing and will help you discover the condition of the building and, if there are problems, give you leverage for reducing the price down or asking the vendor to fix the problems prior to you complete your move.