My husband and I are only a couple days away from an exchange on a house in Bridlington and my mum and dad have transferred the ten percent deposit to my lawyer. I am now advised that as the deposit has been received from someone other than me my property lawyer needs to disclose this to my bank. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I advised the lender regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your solicitor is legally required to check with mortgage company 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 lender if you agree, failing which, your lawyer must cease to continue acting.
How do I check that the solicitor carrying out my conveyancing in Bridlington is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Skipton Building Society thus paying £187.00 plus VAT in further legal charges.
You should take advantage of the find a lender approved solicitor tool on this web page. Please choose the lender and type ‘Bridlington’ or your location and you will be presented with numerous solicitors located in Bridlington or near you.
When it comes to lenders such as Leeds Building Society, do Bridlington conveyancers have to pay an annual charge to be on the conveyancing panel?
We are not aware of any lender fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
Is there a list of Nottingham panel solicitors in Bridlington on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. A small selection of banks make their panel listings visible over the internet. Where you are seeking to appoint a Bridlington solicitor on the Nottingham please make the most of our tool.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Bridlington bank branch on numerous occasions and was told they are content with the situation and they would lend. My Bridlington conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. Who do I believe?
The conveyancer has to comply with the CML Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Bridlington is the location of the property. Is there any advice you can give?
Flying freeholds in Bridlington are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bridlington you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bridlington may ascertain 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.
Should I choose a Bridlington conveyancing solicitor in close proximity to the house I am purchasing? An old friend can handle the conveyancing but her office is 200miles away.
The primary upside of using a local Bridlington conveyancing firm is that you can visit the firm to sign documents, present your ID and pester them if necessary. They will also have local knowledge which is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and on the whole were impressed that must outweigh using an unfamiliar Bridlington conveyancing solicitor solely due to them being round the corner.
Planning to complete next month on a leasehold property in Bridlington. Conveyancing solicitors assured me that they report fully next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Bridlington should include some of the following:
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specifics of the parties to the lease, for instance these could be the (you), head lessor, landlord Alterations to the flat You would want to be sent a copy of the lease Setting out your rights in relation to common areas in the building.For instance, does the lease contain a right of way over a path or hallways?
I acquired a studio flat in Bridlington, conveyancing having been completed in 2008. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Bridlington with a long lease are worth £165,000. The average or mid-range amount of ground rent is £50 levied per year. The lease terminates on 21st October 2102
With 78 years remaining on your lease we estimate the premium for your lease extension to range between £7,600 and £8,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.