We are only a couple days away from an exchange on a house in Ruislip Manor and my parents have sent the 10% deposit to my property lawyer. I am now informed that as the deposit has been received from someone other than me my solicitor 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 lender regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
Your 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 resources. Your solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Finally the sale completed on my house in Ruislip Manor last September yet the purchaser is Skype messaging me to say her conveyancer is waiting to hear from mylawyer. What are the post completion sale legalities following completion?
Following your disposal your lawyer is obliged to send the transfer deeds and all additional paperwork to the purchaser's conveyancer. Depending on the transaction, your solicitor should also evidence that the home loan has been paid off to the buyers lawyers. There are no post completion formalities specific conveyancing in Ruislip Manor.
I require fast conveyancing in Ruislip Manor as I have pressure to exchange contracts within one month. Fortunately I do not require a mortgage. Can I decline from having conveyancing searches to save fees and time?
As you are not taking a home loan you have the choice not to do searches although no solicitor would suggest that you don't. Drawing on years of experience of conveyancing in Ruislip Manor the following are instances of issues that can crop up and adversely affect market value: Enforcement Actions, Overdue Fees, Overdue Grants, Road Schemes,...
How does conveyancing in Ruislip Manor differ for newly converted properties?
Most buyers of new build or newly converted property in Ruislip Manor come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is constructed. This is because developers in Ruislip Manor tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Ruislip Manor or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Ruislip Manor prior to instructing conveyancers. I have been informed that there is a flying freehold overhang to the house. My surveyor has said that some lenders will refuse to issue a loan on such a premises.
It varies from the lender to lender. Lloyds has different instructions from Halifax. Should you wish to call 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 Ruislip Manor. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ruislip Manor to see if the conveyancing will be more expensive.
I today plan to offer on a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Ruislip Manor. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
Most houses in Ruislip Manor are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in Ruislip Manor so you should seriously consider shopping around for a Ruislip Manor conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.
I have given up seeking a lease extension in Ruislip Manor. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We can put you in touch with a Ruislip Manor conveyancing firm who can help.
An example of a Lease Extension case for a Ruislip Manor flat is Flat 72 Queens Walk in January 2013. The Tribunals calculated the premium payable to be £22,090. This case was in relation to 1 flat. The unexpired residue of the current lease was 53.26 years.