My wife and I are approaching an exchange on a property in Chislehurst and my parents have sent the ten percent deposit to my lawyer. I am now informed that as the deposit has not arrived from me my conveyancing practitioner needs to disclose this to my mortgage company. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I informed the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The conveyancing practitioner is obliged to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
What is the difference between a licensed conveyancer and conveyancing solicitor in Chislehurst
Two types of professional can do conveyancing in Chislehurst namely licenced conveyancers or solicitors. The two can handle the legal services that required to complete the disposal or acquisition of property. Both are duty bound to execute Chislehurst conveyancing to the same quality and guidelines so you may be sure that your conveyancing will be professionally carried out and that all requirements and procedures will be accurately adhered to.
I have decided to exercise my right to buy my property in Chislehurst off the council. I have a mortgage agreed with Principality. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Chislehurst solicitor - who is on the Santander conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander 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 Chislehurst 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.
I'm purchasing my first flat in Chislehurst with a mortgage from Leeds Building Society. The builders would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The estate agent advised me not inform my lawyer about the side-deal as it will adversely affect my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, chain free conveyancing. Chislehurst is the location of the property. Can you shed any light on this issue?
Flying freeholds in Chislehurst are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chislehurst you must be sure that your lawyer goes 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 Chislehurst 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 premises.
My partner has urged me to use his lawyers for conveyancing in Chislehurst. Should I use them?
No doubt the ideal way to choose a conveyancing practitioner is to seek feedback from friends or relatives who have actually used the firm that you are are thinking of instructing.
I am on look out for some leasehold conveyancing in Chislehurst. Before I get started I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Chislehurst - 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 have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Chislehurst conveyancing firm to help?
You certainly can. We can put you in touch with a Chislehurst conveyancing firm who can help.
An example of a Lease Extension decision for a Chislehurst premises is 70 Andace Park Gardens 133-149 Widmore Road in November 2013. Tribunal determined that the premium payable for the lease extension was £10,052 This case related to 1 flat. The unexpired term was 72 years.