My husband and I are only a couple days away from an exchange on a house in Temple Fortune and my mum and dad have sent the ten percent deposit to my conveyancer. I am now advised that as the deposit has not come from me my solicitor needs to make a notification to my mortgage company. 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 bank regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The property lawyer is legally required to check with the bank to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
We see that you have a post code search directory listing firms on the Nationwide conveyancing panel. Do firms pay you a commission if I appoint them for our conveyancing in Temple Fortune?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Temple Fortune.
I am remortgaging my apartment in Temple Fortune, does my lawyer need to be on the Nottingham Conveyancing panel?
There is nothing to stop you using your solicitor, but Nottingham will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I'm purchasing my first flat in Temple Fortune benefiting from help to buy. The sellers refused to budge the amount so I negotiated 6k of additionals instead. The house builders rep told me not reveal to my solicitor about the extras as it will jeopardize my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Temple Fortune is the location of the property. What do you suggest?
Flying freeholds in Temple Fortune are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Temple Fortune you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Temple Fortune 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 premises.
If all goes to plan we aim to complete our sale of a £450,000 apartment in Temple Fortune in seven days. The freeholder has quoted £408 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Temple Fortune?
Temple Fortune conveyancing on leasehold apartments usually involves administration charges invoiced by management companies :
Completing conveyancing due diligence enquiries
Where consent is required before sale in Temple Fortune
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
We have reached the end of our tether in seeking a lease extension in Temple Fortune. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We are happy to put you in touch with a Temple Fortune conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Temple Fortune premises is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The number of years remaining on the existing lease(s) was 76 years.