We are only a couple days away from an exchange on a flat in Nechells and my parents have sent the 10% deposit to my solicitor. 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 bank. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the lender about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your property lawyer is duty bound to check with mortgage company to make sure that they know that the balance of the purchase price is not from your own funds. The solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
I have todaybecome aware that Stirling Law have closed. They carried out my conveyancing in Nechells for a purchase of a freehold house 9 months ago. How can I be sure that the property is in my name in the name of the former proprietor?
The easiest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Nechells conveyancing specialists.
I decided to have a survey carried out on a property in Nechells before appointing solicitors. I have been informed that there is a flying freehold element to the house. Our surveyor advised that some banks will refuse to grant a loan on such a house.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Nechells. Conveyancing may be slightly more expensive based on your lender's requirements.
I am using a search engine for the term conveyancing in Nechells it shows results of numerous solicitorsin the area. How do I determine which is the right conveyancer for me?
The ideal way of finding a suitable conveyancer is through a personal testimonial, so seek the guidance of colleagues and relatives who have acquired a property in Nechells or a respected estate agent or mortgage broker. Costs for conveyancing in Nechells differ, so it's advisable to secure at least four quotes from different property lawyers. Be sure to obtain confirmation that the charges are guaranteed not to increase.
I am on look out for some leasehold conveyancing in Nechells. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
If the lease is registered - and most are in Nechells - 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 own a 1 bedroom flat in Nechells, conveyancing was carried out October 2010. How much will my lease extension cost? Equivalent flats in Nechells with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 yearly. The lease comes to an end on 21st October 2074
With 52 years unexpired we estimate the premium for your lease extension to range between £29,500 and £34,000 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.