My wife and I are only a couple days away from an exchange on a flat in Hull and my parents have sent the exchange deposit to my conveyancer. I am now informed that as the deposit has not arrived from me my property lawyer needs to disclose this 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 advised the mortgage company about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your lawyer is obliged to check with mortgage company to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Having spent time reviewing online forums for a recommended lawyer in Hull, most post that I must look for a CQS kitemarked solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in the legal transfer of properties, trusted by some of the UK's biggest 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 Society for Licensed Conveyancers. Hull is one of the many areas in England and Wales where there are Accredited lawyers.
I understand that there are debates on Chancel Insurance on online forums. Am I compelled to take this when purchasing a property in Hull? or I am told that there is an ancient law that could mean that house owners living in a parish church boundary may be liable to contribute towards maintenance to the chancel within the church. Is this appropriate for conveyancing in Hull?
Unless a prior purchase of the premises completed post 12 October 2013 you could assume that lawyers handling conveyancing in Hull to continue to advocate a chancel search and or insurance against a claim.
Back In 2004, I bought a leasehold flat in Hull. Conveyancing and Alliance & Leicester mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Hull who acted for me is not around. Do I pay?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Hull conveyancing practitioner to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I invested in buying a basement flat in Hull, conveyancing formalities finalised October 2007. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Hull with over 90 years remaining are worth £170,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2102
With only 79 years remaining on your lease we estimate the premium for your lease extension to range between £7,600 and £8,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.
Do I need to visit the offices of the mortgage company conveyancing panel solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Hull so that I can pop in to their offices if required.
Whereas this was necessary twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Hull.