My wife and I are nearing an exchange on a property in Marks Gate and my parents have sent the exchange deposit to my property lawyer. I am now advised that as the deposit has not arrived from me my conveyancer needs to disclose this to my lender. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The property lawyer is duty bound to clarify with the bank to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
My grandfather passed away last year and as sole heir and executor I was left the house in Marks Gate. The house had a small mortgage remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Leeds Building Society, pay off the mortgage. Is this possible?
If you plan to re-mortgage then Leeds Building Society will insist on your using a conveyancer on the Leeds Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Leeds Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Leeds Building Society mortgage is registered as a charge at the Land Registry.
Are there restrictive covenants that are commonly identified as part of conveyancing in Marks Gate?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Marks Gate. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying a new build house in Marks Gate with a loan from Nottingham Building Society. The sellers refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The sale representative told me not inform my lawyer about the deal as it will adversely affect my loan with Nottingham Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Are there any apps to help locate a Marks Gate solicitor on the Aldermore conveyancing panel? I have a car and am prepared to travel upto 25kilometers to meet the solicitor.
Feel free to make use of the facility on this website. Please select a lender and your location and you will see a number of Marks Gate conveyancing lawyers located nearest you. We have detailed some Marks Gate conveyancing firms towards the end of this page and you can call them to verify whether they are on the Aldermore panel
What are your top tips when it comes to choosing a Marks Gate conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Marks Gate conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Marks Gate conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be useful:
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How many lease extensions has the firm carried out in Marks Gate in the last year? How familiar is the practice with lease extension legislation?
I have given up trying to purchase the freehold in Marks Gate. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We are happy to put you in touch with a Marks Gate conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Marks Gate residence is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case affected 1 flat. The remaining number of years on the lease was 61.36 years.