My wife and I are only a couple days away from an exchange on a house in Congleton and my mum and dad have sent the 10% deposit to my property lawyer. I am now told that as the deposit has not arrived from me my lawyer needs to make a notification to my bank. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the bank regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
The lawyer is duty bound to check with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Having invested time researching mumsnet.com for an affordable lawyer in Congleton, many post that I must look for a CQS assured solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home ownership transfers, trusted by some of the UK's leading banks. Four years ago the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). CQS is not a scheme offered by the Council of Licensed Conveyancing. Congleton is one of the many areas in England and Wales where there are Accredited lawyers.
I'm purchasing my first flat in Congleton with a mortgage from Birmingham Midshires. The developers refused to move on the price so I negotiated £7000 of extras instead. The property agent advised me not reveal to my lawyer about the deal as it will affect my mortgage with Birmingham Midshires. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
As co-executor for the will of my grandfather I am selling a residence in Cardiff but I am based in Congleton. My conveyancer (who is 300 miles awayneeds me to execute a stat dec prior to completion. Can you recommend a conveyancing lawyer in Congleton to attest this legal document for me?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are located in Congleton
I am on look out for some leasehold conveyancing in Congleton. Before I get started I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Congleton - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a 2 bed flat in Congleton, conveyancing having been completed 4 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Congleton with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £65 yearly. The lease finishes on 21st October 2081
With 61 years left to run we estimate the premium for your lease extension to range between £19,000 and £22,000 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues 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 seeking the advice of a professional.