My husband and I are getting closer to an exchange on a property in Kirkby and my mum and dad have transferred the ten percent deposit to my solicitor. I am now advised that as the deposit has been sent from someone other than me my solicitor 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 delay the deal?
The solicitor is legally required to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a simple, no chain conveyancing. Kirkby is where the house is located. Can you offer any advice?
Flying freeholds in Kirkby are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kirkby you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kirkby may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Am I right to be suspicious by third parties that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a High Street Kirkby conveyancing firm?
As with many professional services, often recommendations from connections can be very helpful. Yet there are numerous parties with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and banks might all suggest solicitors to use. Sometimes the solicitors might be known to one of the organisations as being good in their field, but occasionally there is an underlying financial incentive behind the endorsement. You have the discretion to select your own lawyer. Don't forget that most mortgage providers specify a panel list of law firms you must use for the mortgage aspect of your house move.
Having had my offer accepted I require leasehold conveyancing in Kirkby. Before diving in I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and most are in Kirkby - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I inherited a split level flat in Kirkby, conveyancing having been completed 5 years ago. How much will my lease extension cost? Corresponding flats in Kirkby with a long lease are worth £170,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease finishes on 21st October 2098
With just 79 years left to run 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 suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
My mother and father are unable to locate their Kirkby land registry title on the website. They have a vague recollection back in the 70’s when they bought the bungalow there were complications concerning the address not being identified on some systems.
The vast majority of properties in Kirkby should show up. Have you attempted a search with just the postcode. Ordinarily it should reveal all the residences inside that postcode. Where registered it will be there with a title number. If they bought fifty years ago it's conceivable it may be unrecorded. The address may still be revealed but with the title number shown 'na'. In this scenario you will need to track down the original title deeds which might be with your parent’s lender.