My wife and I are approaching an exchange on a house in Elmers End and my parents have transferred the exchange deposit to my lawyer. I am now advised that as the deposit has been sent from someone other than me my lawyer needs to disclose this to my mortgage company. I am advised that, 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 concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
Your lawyer is legally required to clarify with lender to make sure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Do I have to pop into the offices of the solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Elmers End so that I can pop in to their offices if required.
Most approved lawyers for banks conduct the vast majority of communications via the post, internet or over phone calls. This means that they can undertake the conveyancing transaction regardless of where you live in the country. However you can check if you can still book an appointment to visit conveyancing lawyer if just in case this is required.
What can a local search inform me concerning the house I am purchasing in Elmers End?
Elmers End conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search organisations such as PSG The local search is essential in every Elmers End conveyancing purchase; that is if you don’t want any nasty once you have moved into your new home. The search will provide data on, amongst other things, details on planning applications applicable to the property (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 subject areas.
How does conveyancing in Elmers End differ for newly converted properties?
Most buyers of new build property in Elmers End come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is finished. This is because house builders in Elmers End tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Elmers End or who has acted in the same development.
Am I right to be concerned about brokers that I am dealing with are recommending a web based conveyancing firm as opposed to a local Elmers End conveyancing practice?
As with many service providers, often referrals from relatives can be very helpful. But there are lots of people with a keen interest in a conveyancing deal; estate agents, financial adviser and lenders may recommend lawyers to select. On occasion the solicitors might be known to one of the organisations as being good in their field, but occasionally there may be a financial incentive behind the recommendation. You have the discretion to appoint your preferred lawyer. Don't forget that many lenders specify a panel list of lawyers you have to use for the mortgage related work in your home move.
I would like to rent out my leasehold flat in Elmers End. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Elmers End do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
Having spent months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Elmers End. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Elmers End conveyancing firm who can help.
An example of a Lease Extension case for a Elmers End residence is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case affected 1 flat. The remaining number of years on the lease was 26.38 years.