My wife and I are only a couple days away from an exchange on a property in Hungerford and my parents have sent the exchange deposit to my solicitor. I am now advised that as the deposit has been sent from someone other than me my conveyancer needs to disclose this to my bank. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank about my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
Your property lawyer is obliged to check with lender to make sure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
My wife and I are buying a apartment in Hungerford. It might be a silly question but how we can trust a lawyer? At some point we will need to put funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Hungerford solicitor on the UBS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Hungerford building society branch on numerous occasions and was told it wasn't an issue and they would lend. My Hungerford conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend based on their specific requirements. Who do I believe?
Your conveyancer has to comply with the CML Handbook section two specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I have been told that property searches are the number one cause of hinderance in Hungerford house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of holding up conveyancing in Hungerford.
Me and my brother own a 4 bedroom Georgian house in Hungerford. Conveyancing practitioner acted for me and HSBC Bank. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the exact same property. Is it worth asking HSBC Bank to clarify?
You should read the Freehold register you have again and check the Charges Register as there may be 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 Hungerford and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with your conveyancing solicitor who carried out the work.
I am looking for a ground for flat up to £235,500 and found one close by in Hungerford I like with amenity areas and station nearby, however it's only got 52 remaining years left on the lease. There is not much else in Hungerford in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage the shortness of the lease will likely be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
Hoping to buy a property located in Hungerford and I am already nervous. I couldn't find anything specific about Hungerford. Conveyancing will be needed in due course but do you know about the Hungerford area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Hungerford. In the meantime here are some basic statistics that we found