My husband and I are nearing an exchange on a house in Enderby and my parents have sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my conveyancer needs to make a notification to my lender. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The solicitor is duty bound to check with lender to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
My wife and I are selling our property in Enderby and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. A high street Enderby lawyer would know this is not the case. For the life of me I don't know why the buyers used a national conveyancing outfit rather than a conveyancing solicitor in Enderby. Having lived in Enderby for three years we know of no issue. Should we contact our local Authority to seek confirmation that there is no issue.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I purchased a 4 bedroom Georgian property in Enderby. Conveyancing practitioner represented me and Yorkshire Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Enderby and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with your conveyancing solicitor who conducted the conveyancing.
How does conveyancing in Enderby differ for new build properties?
Most buyers of new build residence in Enderby approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is built. This is because new home sellers in Enderby usually acquire the site, 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 conveyancing solicitors 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 Enderby or who has acted in the same development.
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 quick, no chain conveyancing. Enderby is the location of the property. What do you suggest?
Flying freeholds in Enderby are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Enderby you would need to get your solicitor to go 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 Enderby may determine 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 residence.
When it comes to leasehold conveyancing in Enderby what are the most frequent lease problems?
There is nothing unique about leasehold conveyancing in Enderby. All leases are drafted differently and drafting errors can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
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Maintenance charge proportions which don’t add up to the correct percentage
You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Chelsea Building Society, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.
I acquired a split level flat in Enderby, conveyancing was carried out December 1995. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Enderby with an extended lease are worth £191,000. The ground rent is £55 invoiced annually. The lease finishes on 21st October 2075
With 54 years unexpired we estimate the price of your lease extension to span between £32,300 and £37,400 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.