My partner and I are only a couple days away from an exchange on a property in Wheatley and my mum and dad have transferred the 10% deposit to my property lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I disclosed to the mortgage company about my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
Your conveyancer is duty bound to check with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Can your site be used to locate a Conveyancing solicitor in Wheatley even where I’m not buying or selling a house, for instance if I intend to buy a shop in Wheatley with a mortgage from Bank of Scotland?
The service is predominantly used to find residential conveyancing solicitors in Wheatley but we have set out towards the bottom of this page a selection of Wheatley commercial conveyancing firms. You should enquire with the firm directly to establish if they are also authorised to represent Bank of Scotland
Is it necessary during the course of the conveyancing process to visit the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Wheatley so that I can pop in to their offices if necessary.
Whereas this was necessary ten years ago, almost all mortgage companies no longer oblige their conveyancing panel lawyer to witness the borrowers signature. You will still be obliged to provide ID documents and there are still distinct benefits to choosing a locally based practitioner, in your situation a conveyancing solicitor in Wheatley.
Have completed on a a detached house in Wheatley , how long should it take for the Land Registry to deal with the formalities evidencing my ownership? My Wheatley conveyancing solicitor has been painfully slow, so I want to be certain that my purchase is recorded.
There is nothing unique about conveyancing in Wheatley registration formalities. Rather than based on location, timescales can vary depending on the party submitting the application, whether there are errors and whether the Land registry need to notify any other persons or bodies. Currently in the region of three quarters of submission are fully dealt with in less than three weeks but occasionally there can be longer delays. Historically registration occurs after the buyer is living at the premises thus an expedited registration is not always an essential issue but where it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for an expedited registration.
I am buying a new build house in Wheatley benefiting from help to buy. The sellers would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not disclose to my solicitor about this side-deal as it would put at risk my mortgage with Bank of Scotland. 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 own a leasehold flat in Wheatley. Conveyancing and National Westminster Bank mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Wheatley who acted for me is not around. Do I pay?
First make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to instruct a Wheatley conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a split level flat in Wheatley, conveyancing having been completed 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Wheatley with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £50 levied per year. The lease comes to an end on 21st October 2092
With 68 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.