My wife and I are only a couple days away from an exchange on a house in Brighouse and my mum and dad have transferred the exchange deposit to my solicitor. I am now advised that as the deposit has been sent from someone other than me my conveyancing practitioner needs to make a notification to my bank. Apparently, 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 disclosed to the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
Your lawyer is duty bound to clarify with the bank to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
I am the registered owner of a freehold house in Brighouse yet invoiced for rent, why is this and what is this?
It is rare for properties in Brighouse and has limited impact for conveyancing in Brighouse 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
I'm the only recipient of my late mum's estate with all property in now in my sole name, including the my former home in Brighouse. Conveyancing formalities meant that the Land Registry date was in June. I want to move. I do know about the CML six month 'rule', meaning my proprietorship will be regarded the same way as though I had purchased the property in June. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. many mortgage companies would take a sensible view as this provision is chiefly there to identify subsales or the wholesaling and assigning of property.
I have instructed a Brighouse conveyancer having checked that they are on the Yorkshire BS conveyancing panel. Does my lawyer arrange the survey of the property?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Brighouse surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
After what feels like an age I have had an offer on an apartment in Brighouse accepted, but there is a chain. The sellers have offered on a property, but it’s not yet agreed to, and are looking at other properties in the pipeline. I have instructed a local conveyancing solicitor in Brighouse. What should be my next step? When should I get the mortgage application with TSB started?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then valuation, Brighouse conveyancing search fees, etc). The first thing to do is check that your property lawyer is on the TSB conveyancing panel. Concerning the subsequent steps this very much depends on the circumstances of your transaction, desire for this property and on the state of the market. In a buoyant market many buyers would apply for a home loan with TSB and pay for the valuation and only if it comes back ok would they request their solicitor to press on with searches.
What will a local search reveal regarding the house my wife and I buying in Brighouse?
Brighouse conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company for instance Searches UK The local search plays a central part in most Brighouse conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search will supply data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a straight forward, no chain conveyancing. Brighouse is the location of the property. Is there any guidance you can impart?
Flying freeholds in Brighouse are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Brighouse 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 Brighouse 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 premises.
When it comes to my conveyancing in Brighouse should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Brighouse conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.