My wife and I are only a couple days away from an exchange on a flat in Thornton and my mum and dad 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 lawyer needs to make a notification to my bank. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your solicitor is legally required to clarify with lender to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
My grandmother passed away last year and as sole heir and executor I was left the property in Thornton. The house had a relatively small loan remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this possible?
If you plan to re-mortgage then HSBC will insist on your using a conveyancer on the HSBC conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your HSBC conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the HSBC mortgage is registered as a charge at the Land Registry.
How does conveyancing in Thornton differ for new build properties?
Most buyers of new build property in Thornton approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Thornton typically buy the land, 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 Thornton or who has acted in the same development.
I decided to have a survey done on a house in Thornton in advance of instructing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies tend not give a loan on such a property.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. Should you wish to call us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Thornton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Thornton to see if the conveyancing costs will increase in light of this.
In my capacity as executor for the will of my uncle I am disposing of a house in Neath but reside in Thornton. My lawyer (who is 200 miles awayneeds me to sign a stat dec before completion. Could you suggest a conveyancing practitioner in Thornton to attest this legal document for me?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are located in Thornton
I've recently bought a leasehold house in Thornton. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Thornton Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
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Best to be warned whether redecorating or some other major work is due in the near future to be shared between the leaseholders and will materially impact the level of the service costs or necessitate a specific invoice. How much is the ground rent and service charge? How is the lease structured?