My husband and I are nearing an exchange on a house in Wellingborough and my parents have transferred the exchange deposit to my solicitor. I am now told that as the deposit has been received from someone other than me my conveyancer needs to disclose this to my bank. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the bank about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
The solicitor is obliged to clarify with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your lender if you agree, failing which, your lawyer must cease to continue acting.
My home in Wellingborough is up for sale and I have a buyer. Does my solicitor need to be required to be on the RBS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the RBS 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 specifications fairly frequently at the moment.
I'm buying a new build house in Wellingborough with a loan from Yorkshire Building Society. The builders refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The property agent told me not disclose to my lawyer about this extras as it could impact my loan with the bank. Is this normal?.
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.
My brother has suggested that I use his conveyancers in Wellingborough. Should I use them?
No doubt it’s preferable to select a conveyancing practitioner is to seek feedback from friends or relatives who have previously instructed the conveyancer you're contemplating using.
All being well we will complete our sale of a £275,000 apartment in Wellingborough in just under a week. The managing agents has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Wellingborough?
For the majority of leasehold sales in Wellingborough conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Answering pre-contract questions
Where consent is required before sale in Wellingborough
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I own a garden flat in Wellingborough, conveyancing formalities finalised 5 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Wellingborough with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 yearly. The lease comes to an end on 21st October 2098
With just 74 years left to run we estimate the price of your lease extension to span between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
What type of property do your Wellingborough conveyancing estimates apply to?
Our conveyancing quotes are only applicable to standard residential property in England & Wales. Where you have any different needs for example industrial or agricultural property or commercial conveyancing in Wellingborough you should telephone us to address your requirements .