My husband and I are approaching an exchange on a property in Heanor and my parents have transferred the exchange deposit to my conveyancer. I am now advised that as the deposit has not come from me my property lawyer needs to disclose this to my lender. Apparently, 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 mortgage company concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
The property lawyer is duty bound to check with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
My brother-in-law has suggested I instruct a conveyancing solicitor in Heanor. I need to find out if they are accepted on the HSBC Bank approved list of lawyers. Could you or the lender confirm if they are on the panel?
You should phone your lawyer and enquire if they can act for the bank. Otherwise you should get in touch with HSBC Bank who may be able to help.
I am downsizing from my property. My past solicitors has retired. I am in need of a recommendation of a conveyancing firm. Im based in Heanor if that makes a difference.
You should use our search tool to help you find a solicitor for your conveyancing in Heanor. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
I am tempted by the attractive purchase price for a couple of apartments in Heanor which have in the region of forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Heanor. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this arena.
I invested in buying a studio flat in Heanor, conveyancing was carried out in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Heanor with over 90 years remaining are worth £180,000. The ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2081
With just 59 years left to run we estimate the premium for your lease extension to be between £20,900 and £24,200 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive 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 considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
I have just started marketing my garden apartment in Heanor.Conveyancing has not commenced however I have recently had a yearly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as normal given that all rents and service payments will be allottedon completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially