My husband and I are only a couple days away from an exchange on a flat in Silsoe and my mum and dad have sent the 10% deposit to my conveyancer. I am now told that as the deposit has been sent from someone other than me my conveyancer needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must inform 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?
The lawyer is legally required to check with lender 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 bank if you agree, failing which, your lawyer must cease to continue acting.
I am selling my home in Silsoe. Will the solicitor have to be required to be on the Lloyds conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Lloyds conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently at the moment.
I am the single beneficiary of my late grandmother’s estate and I have everything in my name now, including the house in Silsoe. Conveyancing formalities meant that the Land Registry date was in May. I want to move. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship may be treated the same way as though I had purchased the house in May. Will no one buy the property for half a year?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How practical a view banks take of it, depend on the lender as this clause chiefly exists to capture the purchase and immediately sell or the flipping of property.
My wife and I have organised a further advance on our mortgage from Coventry BS as we wish to conduct renovations to our home in Silsoe. Do we need to select a bricks and mortar Silsoe solicitor on the Coventry BS conveyancing panel to handle the paperwork?
Coventry BS would not normally instruct firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Coventry BS panel.
Last month we had a mortgage agreed in principle with Lloyds. Silsoe conveyancing lawyers are selected. How long does it take for Lloyds to send the offer to the property lawyer?
Some lenders take longer than others. Have Lloyds conducted the valuation? Have you informed Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Silsoe is where the house is located. What do you suggest?
Flying freeholds in Silsoe are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Silsoe you would need to get your solicitor to go 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 Silsoe may ascertain 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.
Am I better off to instruct a Silsoe conveyancing lawyer in close proximity to the house I am purchasing? We have a good friend who can carry out the legal work however his firm is located 200miles away.
The benefit of a local Silsoe conveyancing practice is that you can attend the office to sign documents, deliver your ID and pester them if necessary. Having local Silsoe know how is a benefit. That being said it's more important to get someone that will do a good and efficient job. If other friends have used your friend and the majority were content that must outweigh using an unfamiliar Silsoe conveyancing lawyer just because they are based in the area.
I only have 68 years unexpired on my flat in Silsoe. I am keen to get lease extension but my freeholder is can not be found. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you have done all that could be expected to locate the lessor. In some cases a specialist would be useful to conduct investigations and to produce an expert document which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on proving the landlord’s absence and the vesting order request to the County Court covering Silsoe.
Silsoe Leasehold Conveyancing - A selection of Queries Prior to Purchasing
This information is useful as a) areas may result in problems for the block as the common areas may begin to deteriorate where maintenance are not paid for b) if the leaseholders have a dispute with the running of the building you will wish to know about it Be sure to find out if there are any onerous restrictions in the lease. By way of example plenty of leases prohibit pets being permitted in certain buildings in Silsoe. If you like the flatin Silsoe however your cat is not allowed to make the move with you then you will be presented with a difficult determination. Who manages the building?