We are getting closer to an exchange on a property in Ladywell and my mum and dad have transferred the 10% deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my mortgage company. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I informed the bank about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your lawyer is legally required to clarify with mortgage company to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
We note that you have a post code search directory listing law firms on the UBS conveyancing panel. Do companies pay you a referral fee if I instruct them for our own conveyancing in Ladywell?
We are a listing service only for law firms wishing to communicate if they are on the UBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Ladywell.
Me and my brother own a terraced Edwardian house in Ladywell. Conveyancing practitioner represented me and National Westminster Bank. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold with the exact same address. Is it worth asking National Westminster Bank to clarify?
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 Ladywell and other areas of 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 purchasers. You can also check the position with the conveyancing solicitor who conducted the purchase.
I am looking for a leasehold apartment up to £195,000 and found one close by in Ladywell I like with amenity areas and railway links nearby, the downside is that it only has 51 years unexpired on the lease. There is not much else in Ladywell in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
Are there any apps to help locate a Ladywell solicitor on the Nationwide Building Society conveyancing panel? I have a car and am happy to travel upto 20kilometers to meet the conveyancer.
You can use the facility on this website. Please select a lender and your location and you will see a number of Ladywell conveyancing lawyers based on proximity. We have detailed some Ladywell conveyancing firms towards the end of this page and you can contact them to see if they are on the Nationwide Building Society member panel
We expect to complete our sale of a £125,000 garden flat in Ladywell in six days. The managing agents has quoted £360 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Ladywell?
Ladywell conveyancing on leasehold maisonettes nine out of ten times results in fees being raised by managing agents :
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Completing pre-exchange enquiries
Where consent is required before sale in Ladywell
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
My wife and I have hit a brick wall in trying to purchase the freehold in Ladywell. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to arrive at the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Ladywell residence is 44 Elmer Road in January 2013. The Tribunal dacied that amount to be paid by the Leaseholders for the Landlords freehold reversion was £12,951 as at the valuation date (20" September 2012).This matter was referred back to the Bromley County Court to deal with costs, fees and any other outstanding matters. This case was in relation to 2 flats. The unexpired term was 74.25 years.