We are nearing an exchange on a property in Bedford Hill and my mum and dad have transferred the exchange deposit to my conveyancing practitioner. I am now informed that as the deposit has been sent from someone other than me my solicitor needs to make a notification 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 coming from anyone other than me. I advised the bank about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
Your solicitor is obliged to check with lender to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
3 months have gone by since my purchase conveyancing in Bedford Hill took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Just had an offer accepted on a new build apartment in Bedford Hill. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Bedford Hill
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please confirm the Lease plans are surveyor prepared. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I am looking for a ground for flat up to £235,500 and found one near me in Bedford Hill I like with a park and station nearby, however it's only got 51 years on the lease. There is not much else in Bedford Hill in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you need a home loan that many years will be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
I need to instruct a conveyancing solicitor for residential conveyancing in Bedford Hill. I happened to discover a site which looks to be the perfect solution If there is a chance to get all the legals done via email that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am on look out for some leasehold conveyancing in Bedford Hill. Before diving in I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Bedford Hill - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the proprietor of a ground flat in Bedford Hill. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
You certainly can. We can put you in touch with a Bedford Hill conveyancing firm who can help.
An example of a Lease Extension case for a Bedford Hill property is First Floor Flat 152a Ramsden Road in June 2009. The net result of the tribunals calculation produced a premium payable of £23,975. This case related to 1 flat. The unexpired lease term was 56.67 years.