My wife and I are only a couple days away from an exchange on a property in Dosthill and my parents have sent the 10% deposit to my lawyer. I am now told that as the deposit has been received from someone other than me my lawyer needs to make a notification to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
Your property lawyer is obliged to clarify with mortgage company to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
I am the registered owner of a freehold premises in Dosthill but still pay rent, why is this and what is this?
It’s unusual for properties in Dosthill and has limited impact for conveyancing in Dosthill 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 date back hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
It has been four months since my purchase conveyancing in Dosthill concluded. I have checked the Land Registry website which shows that I paid £150,000 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 residence 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.
Due to the advice of my in-laws I had a survey completed on a property in Dosthill before retaining lawyers. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some banks will not issue a mortgage on such a property.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. Should you wish to telephone us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Dosthill. Conveyancing will be smoother if you use a solicitor in Dosthill especially if they are familiar with such properties in Dosthill.
Hoping to buy a property located in Dosthill and I am already nervous. I couldn't find anything specific about Dosthill. Conveyancing will be needed in due course but do you know about the Dosthill area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Dosthill. In the meantime here are some basic statistics that we found
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £300,000 garden flat in Dosthill next week. The landlords agents has quoted £312 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Dosthill?
Dosthill conveyancing on leasehold maisonettes often involves the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be willing to do so. They are at liberty to invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge levied by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is requested of you should you wish to sell the property.
Dosthill Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
-
How long is the Lease? How much is the ground rent and service charge? Be sure to enquire if there is anything that is prohibited in the lease. For instance it is very common in Dosthill leases that pets are not permitted in in a block in Dosthill. If you love the propertyin Dosthill but your cat is not allowed to live with you then you have a very hard choice.