My husband and I are nearing an exchange on a flat in Anstey and my parents have transferred the exchange deposit to my conveyancer. I am now told that as the deposit has not come from me my solicitor needs to make a notification to my bank. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
Your solicitor is duty bound to check with lender to make sure that they know that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
We hope to to purchase with Loughborough BS. I dropped in a couple of high street companies yet cant to find a Anstey conveyancing firm on the Loughborough BS approved list. Can you help?
You should make the most of the find a lender approved solicitor tool on this page. Pick the lender and type Anstey or your location and you will see a number of lawyer based in Anstey or nearest you.
How does conveyancing in Anstey differ for newly converted properties?
Most buyers of new build property in Anstey come to us having been asked by the builder to exchange contracts and commit to the purchase even before the property is completed. This is because developers in Anstey typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Anstey or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a simple, no chain conveyancing. Anstey is where the house is located. What do you suggest?
Flying freeholds in Anstey are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Anstey you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Anstey 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 residence.
I have been advised by a few property agents in Anstey to select a property lawyer using your seach tool. What’s the financial incentive for Estate Agents to market your services rather than a competitor’s?
We don’t make any referral fee for pointing buyers and sellers in our direction. We thought it would be too underhand a fee as a client could think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I own a leasehold house in Anstey. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Anstey who acted for me is not around. What should I do?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Anstey conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a ground floor flat in Anstey, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Anstey with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 levied per year. The lease runs out on 21st October 2081
With 55 years left to run we estimate the price of your lease extension to span between £31,400 and £36,200 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.