My husband and I are only a couple days away from an exchange on a property in Cranfield and my mum and dad have sent the ten percent deposit to my . I am now advised that as the deposit has not come from me my needs to disclose this to my bank. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I disclosed to the bank concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
The is duty bound to clarify with the bank to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
I am purchasing a property and need a conveyancing solicitor in Cranfield who is on the solicitor. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for in certain locations such as Cranfield. We dont recommend any particular firm.
A colleague informed me that in purchasing a property in Cranfield there could be a number of restrictions as to what one can do in terms of external changes to a property. Is this right?
There are anumerous of properties in Cranfield which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Cranfield should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
After weeks of negotiation I have agreed a price on a house in Cranfield. My financial adviser recommended their conveyancers. I paid an advanced payment of £175. A few days later, the contacted me embarrassingly acknowledging that they were not on the conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Having digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Cranfield solicitor - who is on the conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
will need an independent valuation of the property. Your lawyer will not arrange this. Usually will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Cranfield postcode. As you are getting a mortgage with , you could contact them to see if they have a list of approved surveyors in Cranfield.
Me and my brother have a terraced Georgian house in Cranfield. Conveyancing practitioner acted for me and . I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold under the matching address. Is it worth asking to clarify?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cranfield and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing solicitor who conducted the purchase.
Over the last few months I have been searching for a ground for flat up to £305k and identified one round the corner in Cranfield I like with a park and transport links nearby, however it only has 51 years unexpired on the lease. There is not much else in Cranfield suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the remaining unexpired lease term will likely be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.