We are nearing an exchange on a flat in Langford and my mum and dad have sent the 10% deposit to my lawyer. I am now advised that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my lender. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the bank about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your conveyancer is duty bound to check with the bank to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Is there a reason why leasehold purchase conveyancing in Langford costs more?
In summary, leasehold conveyancing in Langford and elsewhere usually requires additional due diligence compared to freehold transactions. This includes reviewing the lease, corresponding with the landlord about the service of appropriate notices, securing up-to-date service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first granted.
Have purchased a a detached house in Langford , how long will it take for the Land Registry to register my title? My Langford conveyancing solicitor has been very slow, so I want to be certain the registration is addressed.
As far as conveyancing in Langford is concerned, registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timescales can differ according to who lodges the application, whether there are errors and whether the Land registry must send notices to any interested persons or bodies. At present roughly three quarters of such applications are completed within two weeks but some can be subject to extensive delays. Registration occurs after the new owner has moved in to the property so an expedited registration is not usually an essential issue but if there is a degree of urgency associated with the registration then you or your lawyers can speak with the land registry and explain the circumstances.
I am looking for a ground for flat up to £305k and identified one close by in Langford I like with amenity areas and station in the vicinity, however it's only got 61 years unexpired on the lease. I can't really find anything else in Langford for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the shortness of the lease will likely be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
Do online conveyancing organisations cover everything a local Langford solicitor does or must I use a solicitor for the final stages for my conveyancing in Langford?
If you instruct an online conveyancer they will cover all the tasks your Langford conveyancer will cover.