My wife and I are approaching an exchange on a house in Goodmayes and my mum and dad have sent the 10% deposit to my conveyancer. I am now told that as the deposit has not come from me my property lawyer needs to make a notification to my lender. Apparently, in also acting for the lender he must inform 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 appropriate for this now to hold matters up?
Your conveyancer is duty bound to clarify with mortgage company to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one near me in Goodmayes I like with amenity areas and railway links in the vicinity, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Goodmayes suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage that many years may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
My brother has recommend that I instruct his conveyancing solicitors in Goodmayes. Do I follow his advice?
No doubt the ideal way to find a conveyancing lawyer is to get referrals from friends or family who have used the firm you're are thinking of instructing.
There are only 62 years remaining on my flat in Goodmayes. I need to extend my lease but my landlord is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you have made all reasonable attempts to find the lessor. On the whole an enquiry agent may be useful to try and locate and to produce a report which can be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the vesting order request to the County Court overseeing Goodmayes.
I inherited a first flat in Goodmayes. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Goodmayes conveyancing firm who can help.
An example of a Lease Extension case for a Goodmayes property is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case affected 1 flat. The unexpired term was 61.36 years.
My conveyancing in Goodmayes completes on Friday, yet the owners I am buying off wishes to move out 24 hours later at midday. Do I accept such a plan?
It is not possible to complete on a Saturday due to the bank systems are not operating.