I am nearing an exchange on a property in Waltham and my mum and dad have sent the 10% deposit to my solicitor. I am now informed that as the deposit has not come from me my solicitor needs to make a notification to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I advised the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your conveyancer is duty bound 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 disclose this to your bank if you agree, failing which, your lawyer must cease to continue acting.
It is a dozen years since I purchased my house in Waltham. Conveyancing lawyers have just been appointed on the sale but I can't find my deeds. Will this cause complications?
You need not be too concerned. Firstly the deeds may be retained by the lender or they may be in the possession of the lawyers who acted in the purchase. Secondly in all probability the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers procuring current official copies of the land registers. Almost all conveyancing in Waltham involves registered property but in the rare situation where your home is unregistered it adds to the complexity but is not insurmountable.
I am helping my sister sell her house in Waltham. Does the conveyancing solicitor commission the energy performance certificate or it is for me to coordinate?
After the demise of HIPs, energy assessments was retained a mandatory component of moving house. An energy performance certificate needs to be commissioned prior to the property being advertised. This is not something that solicitors ordinarily organise. If you are instructing a Waltham conveyancing solicitor they might be willing to arrange energy performance certificates given their relationships with reputable local providers
We previously instructed conveyancers located in Waltham on the Co-operative solicitor approved list. They have just billed me a supplemental sum for dealing with the Co-operative mortgage. Is this an additional conveyancing fee specified by Co-operative?
Provided it is contained in their Terms of Engagement or estimate then yes your solicitor is entitled to levy a fee for this. This charge is not set by Co-operative but by your Waltham property lawyer. Some firms on the Co-operative panel will quote ’dealing with mortgage’ fee and others do not.
I am due to exchange contracts on my apartment. I had a double glazing fitted in October 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, RBS are being pedantic. The Waltham solicitor who is on the RBS conveyancing panel is recommending indemnity insurance as a solution but RBS are insisting on a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My uncle has suggested that I appoint his conveyancers in Waltham. Should I choose my own solicitor?
Much as we are happy to recommend a Waltham conveyancing lawyer the best way to select a conveyancing practitioner is to get guidance from friends or family who have used the firm you're considering.
Last May I purchased a leasehold house in Waltham. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
I bought a leasehold flat in Waltham, conveyancing having been completed in 1998. Can you work out an approximate cost of a lease extension? Equivalent flats in Waltham with over 90 years remaining are worth £181,000. The ground rent is £55 levied per year. The lease ends on 21st October 2075
With just 51 years unexpired we estimate the premium for your lease extension to span between £30,400 and £35,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
There are numerous houses in Waltham on unadopted roads. We are purchasing such a house. Are there any advantages to purchasing a property on a private road?
Waltham conveyancing solicitors are familiar with conveyancing propertieson unadopted roads. The conveyancing practitioner will investigate Land Registry data to find any rights or responsibilities. In many cases there is a management company (wholly owned by residents) that proprietors make annual payments to maintain the road. If there is one, the road should be maintained and look better than council maintained.