My husband and I are only a couple days away from an exchange on a property in St Luke's and my parents have sent the exchange deposit to my lawyer. I am now informed that as the deposit has not arrived from me my property lawyer needs to make a notification to my lender. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The conveyancing practitioner is duty bound to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
My house in St Luke's is up for sale and I have accepted an offer. Will my property lawyer have to be required to be on the Virgin Money conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Virgin Money 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 panel criteria fairly frequently currently.
I require quick conveyancing in St Luke's as I have an ultimatum to sign on the dotted line inside 3 weeks. A home loan is not required. Can I escape the need for conveyancing searches to save fees and time?
As you are are a cash buyer you are at free not to have searches carried out although no solicitor would recommend that you don't. Drawing on our experience of conveyancing in St Luke's the following are examples of issues that can arise and adversely impact future mortgageability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
I decided to have a survey carried out on a house in St Luke's before appointing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some banks may refuse to grant a loan on such a property.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. If you e-mail us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in St Luke's. Conveyancing will be smoother if you use a solicitor in St Luke's especially if they are acquainted with such properties in St Luke's.
What does commercial conveyancing in St Luke's cover?
St Luke's conveyancing for business premises incorporates a broad array of services, supplied by regulated solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
Can you offer any advice when it comes to finding a St Luke's conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a St Luke's conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non St Luke's conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:
How many lease extensions has the firm carried out in St Luke's in the last year? If they are not ALEP accredited then what is the reason?
Following years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in St Luke's. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to calculate the premium.
An example of a Lease Extension case for a St Luke's premises is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case related to 2 flats. The remaining number of years on the lease was 72.39 years.