My partner and I are only a couple days away from an exchange on a house in Pinner Green and my mum and dad have sent the ten percent deposit to my solicitor. I am now told that as the deposit has been received from someone other than me my conveyancer needs to make a notification to my mortgage company. Apparently, 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 lender concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The conveyancing practitioner is duty bound to clarify with mortgage company to make sure that they know that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Why is leasehold purchase conveyancing in Pinner Green is more expensive?
Pinner Green leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Please explain the implications if my solicitor is suspended from the Coventry BS Conveyancing panel ahead of completing my conveyancing in Pinner Green?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Due to the input of my in-laws I had a survey completed on a house in Pinner Green prior to instructing lawyers. I have been told that there is a flying freehold aspect to the house. The surveyor advised that some mortgage companies will not grant a loan on this type of property.
It varies from the lender to lender. Santander has different requirements from Halifax. If you e-mail us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Pinner Green. Conveyancing may be slightly more expensive based on your lender's requirements.
Am I better off to use a Pinner Green conveyancing solicitor in close proximity to the house I am hoping to buy? I have an old university friend who can carry out the conveyancing but his firm is located a couple of hundredkilometers away.
The primary upside of using a local Pinner Green conveyancing firm is that you can visit the firm to sign documents, present your identification documents and apply pressure on them if necessary. They will also have local intelligence which is a plus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were content that must surpass using an unknown Pinner Green conveyancing lawyer just because they are round the corner.
Having had my offer accepted I require leasehold conveyancing in Pinner Green. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Pinner Green - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have given up trying to purchase the freehold in Pinner Green. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to determine the amount due.
An example of a lease Extension decision for a Pinner Green flat is 25 Beechwood Avenue in November 2012. the Tribunal accordingly determined that the premium for the lease extension should be £24,353. This case affected 1 flat. The unexpired lease term was 58.19 years.