I am expecting a offer of a home loan from Lloyds. My intention is to employ the services of a Licensed Conveyancer in Chapel Allerton. Does the Lloyds Conveyancing panel include Licensed Conveyancers?
The Lloyds conveyancing panel is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
We are getting closer to an exchange on a property in Chapel Allerton and my mum and dad have transferred the ten percent deposit to my conveyancer. I am now informed that as the deposit has not arrived from me my property lawyer needs to make a notification to my bank. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the bank regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your solicitor is legally required to clarify with lender to make sure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
I have been on the look out for a flat up to £235,500 and found one close by in Chapel Allerton I like with a park and transport links in the vicinity, however it's only got 49 years unexpired on the lease. I can't really find anything else in Chapel Allerton suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
I am looking into buying my first house which is in Chapel Allerton and I am already nervous. I couldn't find anything specific about Chapel Allerton. Conveyancing will be needed in due course but do you know about the Chapel Allerton area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Chapel Allerton. In the meantime here are some basic statistics that we found
Am in the process of buying my 1st property in Chapel Allerton. Conveyancing solicitor already appointed. The broker advised that a survey is not appropriate as the property was only constructed twenty two years ago.
At the very least you should order a Home Buyer's Report. As the property was constructed more than a decade ago the property will not come with a warranty, so you don't want to take a risk. For a property that age with no signs of problems a Home Buyer's report could suffice. The report should highlight any apparent issues and recommend further investigation where appropriate. If there are any signs of problems obtain a full Building Survey from the beginning.