My partner and I are only a couple days away from an exchange on a property in Ravenscourt Park and my parents have sent the exchange deposit to my lawyer. I am now told that as the deposit has not arrived from me my lawyer needs to make a notification to my bank. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
The property lawyer is duty bound to check with lender to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Is it the case that all Ravenscourt Park solicitor practices on the HSBC conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the HSBC approved list of solicitors they would need to be overseen by the SRA. The majority of lenders do allow licenced conveyancers on their panel and in such a situation the firms would be governed by the Council of Licensed Conveyancers.
We were going to get a OIP from Clydesdale this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Clydesdale recommend any Ravenscourt Park solicitors on the Clydesdale conveyancing panel, or is it better to go independently?
You will need to appoint Ravenscourt Park solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
I have decided to exercise my right to buy my property in Ravenscourt Park off the council. I have a mortgage agreed with Skipton. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
I purchased a 4 bedroom Victorian property in Ravenscourt Park. Conveyancing lawyer acted for me and Bank of Scotland. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You need to review 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 Ravenscourt Park and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing practitioner who carried out the work.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, no chain conveyancing. Ravenscourt Park is where the house is located. Can you shed any light on this issue?
Flying freeholds in Ravenscourt Park are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ravenscourt Park you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ravenscourt Park 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 property.
Hoping to buy a property located in Ravenscourt Park and I am already nervous. I couldn't find anything specific about Ravenscourt Park. Conveyancing will be needed in due course but do you know about the Ravenscourt Park area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Ravenscourt Park. In the meantime here are some basic statistics that we found
I pay a service charge for my flat in Ravenscourt Park. Due to losing my job and other issues I fell into arrears with payments. I negotiated a payment plan but there is still a couple of left in arrears.
I am under pressure to sell and I am worried this will threaten to derail the sale if I have to discharge the arrears in advance. I'd like to sell up and subsequently repay the arrears from the completion monies - is this achievable?
You should check with the lawyer conducting your Ravenscourt Park conveyancing but it may be possible to agree for the arrears to be transferred to the purchasers. The contractual price payable would be reduced to reflect the amount of debt they take on. They would then discharge the outstanding monies once they are the owners.