My wife and I are only a couple days away from an exchange on a flat in Burnham and my mum and dad have transferred the 10% deposit to my solicitor. I am now told that as the deposit has not come from me my property lawyer 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 not just from me. I disclosed to the bank regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The conveyancer is legally required to clarify with mortgage company to make sure 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 mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Having sold my house in Burnham last September but my buyer keeps Skype messaging me to say her lawyer is waiting to hear from myconveyancer. What are the post completion sale formalities following completion?
Post completion of your sale your solicitor should deliver the transfer deeds and all additional paperwork to the purchaser's lawyers. If applicable, your lawyer must also evidence that the mortgage has been paid off to the buyers conveyancers. There is unlikely to be post completion requirements just for conveyancing in Burnham.
Have purchased a a semi-detached house in Burnham , What is the estimated time for the Land Registry to record my ownership? My Burnham conveyancing solicitor works at snail pace, so I want to check the registration formalities are addressed.
As far as conveyancing in Burnham registration is no faster or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can adjust according to the party submitting the application, whether it is in order and whether the Land registry must send notices to any 3rd parties. Currently in the region of three quarters of such applications are completed within 12 days but occasionally there can be longer hold-ups. Historically registration takes place after the buyer is living at the property thus 'speed' is not usually an essential issue but where there is a degree of urgency associated with the registration then you or your lawyers must communicate with the Registry to express the reasoning for the application to be prioritised.
I have been on the look out for a ground for flat up to £195,000 and found one near me in Burnham I like with a park and railway links nearby, however it only has 61 years unexpired on the lease. There is not much else in Burnham in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term will be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I would like to rent out my leasehold apartment in Burnham. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your last Burnham conveyancing solicitor is not around you can check your lease to see if you are permitted to let out the property. The rule is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you are obliged to obtain consent from your landlord or other appropriate person in advance of subletting. This means you not allowed to sublet without prior permission. The consent should not be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord for their consent.
Burnham Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing
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How is the lease structured? Can you inform me if there are any major works in the near future that could add a premium to the service costs? Does the lease contain onerous restrictions?
Is there a difference between surveying and conveyancing in Burnham?
Conveyancing - in Burnham or elsewhere - is the process of legally 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’re buying and will help you find out about the condition of the building and, if there are problems, give you a powerful reason for reducing the price down or asking the vendor to remedy the problems before you move in.