My wife and I are getting closer to an exchange on a house in Widdrington and my parents have sent the exchange deposit to my conveyancing practitioner. I am now informed that as the deposit has been received from someone other than me my lawyer needs to disclose this to my mortgage company. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I advised the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The property lawyer is legally required to check with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Are the Widdrington conveyancing solicitors identified as being on the Virgin Money conveyancing panel, together with their details provided by Virgin Money?
Widdrington conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
Should my lawyer be asking questions about flooding during the conveyancing in Widdrington.
Flooding is a growing risk for conveyancers specialising in conveyancing in Widdrington. Some people will purchase a house in Widdrington, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, however there are a number of searches that may be undertaken by the buyer or on a buyer’s behalf which can figure out the risks in Widdrington. The standard completed inquiry forms sent to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to determine whether the property has suffered from flooding. In the event that the residence has been flooded in past and is not revealed by the owner, then a purchaser may bring a claim for damages resulting from an inaccurate answer. The purchaser’s lawyers should also order an environmental report. This will higlight whether there is a recorded flood risk. If so, further investigations will need to be conducted.
I have todaybecome aware that Action Conveyancing have been shut down. They conducted my conveyancing in Widdrington for a purchase of a freehold house 18 months ago. How can I be sure that my home is in my name in the name of the former proprietor?
The quickest way to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Widdrington conveyancing specialists.
In my capacity as executor for the estate of my grandmother I am disposing of a residence in Swansea but reside in Widdrington. My lawyer (approximately 250 kilometers from mehas requested that I sign a stat dec ahead of the transaction finalising. Could you suggest a conveyancing lawyer in Widdrington who can attest this legal document for me?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are Widdrington based
What are the common problems that you encounter in leases for Widdrington properties?
There is nothing unique about leasehold conveyancing in Widdrington. All leases are unique and drafting errors can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
-
Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Virgin Money, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.
Widdrington Leasehold Conveyancing - Sample of Questions you should ask before Purchasing
-
It is important to be aware if window replacement or some other major work is coming up that will be shared by the leasehold owners and will materially impact the level of the maintenance costs or result in a one time payment. The majority of Widdrington leasehold properties will have a service charge for maintenance of the building invoiced by the freeholder. Should you purchase the flat you will have to meet this amount, usually quarterly throughout the year. This can be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a rentcharge to be met yearly, normally this is not a large amount, say approximately £25-£75 but you should to check as on occasion it can be many hundreds of pounds. Its a good idea to discover as much as possible regarding the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to daily issues like the cleanliness of the common parts. You should not be shy to ask prospective neighbours if they are happy with them. Finally, investigate as to the dates that the service charges are due to the relevant party and precisely what you get for your money.