We are only a couple days away from an exchange on a property in Flint Mountain and my mum and dad have sent the 10% deposit to my solicitor. I am now informed that as the deposit has been sent from someone other than me my solicitor needs to disclose this to my mortgage company. I am advised that, 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 disclosed to the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your conveyancer is legally required to check with lender to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
What is the first thing I need to know about purchase conveyancing in Flint Mountain?
Not many law firms shout this from the rooftops but conveyancing in Flint Mountain or throughout England and Wales is an adversarial process. In other words, when it comes to conveyancing there exists lots of opportunity for conflict between you and other parties involved in the ownership transfer. E.g., the vendor, property agent and sometimes your lender. Choosing a law firm for your conveyancing in Flint Mountain is a critical decision as your conveyancer is your adviser, and is the SOLE party in the transaction whose responsibility is to act in your best interests and to keep you safe.
We are witnessing a distinct emergence in the "blame" culture- someone must be blamed for the process taking so long. You your first instinct should be to trust your solicitor ahead of the other players when it comes to the legal transfer of property.
I am refinancing my property in Flint Mountain, does my lawyer have to be on the UBS Solicitor panel?
In theory, you could use a solicitor that is not on the UBS conveyancing panel, but UBS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Just had an offer accepted on a new build flat in Flint Mountain. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Flint Mountain
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I've recently bought a leasehold property in Flint Mountain. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
I acquired a studio flat in Flint Mountain, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Flint Mountain with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £65 yearly. The lease comes to an end on 21st October 2085
With 61 years remaining on your lease we estimate the price of your lease extension to range between £19,000 and £22,000 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.