My wife and I are getting closer to an exchange on a house in Chase Side and my mum and dad have transferred the ten percent deposit to my conveyancing practitioner. I am now advised that as the deposit has not come from me my property lawyer needs to disclose this to my lender. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the bank about my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
The solicitor is obliged to check with the bank to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
I am helping my step-mother sell her flat in Chase Side. Does the conveyancer arrange an energy performance certificate or should I organise this?
Following the demise of Home Packs, energy performance certificates became a compulsory component of moving property. An energy assessment must be to hand prior to the property being marketed. It is not something that lawyers normally organise. If you are instructing a Chase Side conveyancing practitioner they might help arrange energy assessments given their contacts with reputable local providers
When it comes to mortgage companies such as Virgin Money, do Chase Side property lawyers incur a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
Is there a list of HSBC panel solicitors in Chase Side on the Council of Mortgage Lender’s Website?
No. There is no such tool on the CML or Building Society Association websites. Very few lending institutions make their panel listings viewable over the internet. If you are looking for a Chase Side lawyer on the HSBC please make the most of our tool.
I have been on the look out for a ground for flat up to £305k and identified one near me in Chase Side I like with amenity areas and station in the vicinity, however it's only got 51 years unexpired on the lease. I can't really find anything else in Chase Side suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you need a home loan the shortness of the lease will be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
I've recently bought a leasehold flat in Chase Side. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee 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).
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Chase Side. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to arrive at the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Chase Side residence is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The unexpired term was 70.31 years.
We are considering instructing a web based conveyancing practitioner as opposed to a Chase Side conveyancing firm. Any advice?
Numerous benefits exist in having the opportunity to pop in to a local Chase Side conveyancing solicitor such as
- signing documents and and when necessary
- sometimes being able to speak to someone face-to-face can make a huge difference, particularly for non-standard conveyancing
- the ability to complain if matters are not going as expected
When comparing estimates, look carefully for hidden extras. Most decent Chase Side high street solicitors give an all-inclusive price. Often online companies seem to offer low cost fees, but have burried 'extras' in the in the terms and conditions.