I am approaching an exchange on a house in Pencader and my mum and dad have transferred the ten percent deposit to my conveyancer. I am now informed that as the deposit has not come from me my conveyancer needs to disclose this to my lender. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I advised the bank regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your solicitor is legally required to clarify with lender to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
We wanted to use a property lawyer in Pencader for our home move. Our broker informed us that our bank Aldermore won't deal with them. Why is this not regarded as unduly restrictive?
Banks tend to restrict either the category or the number of conveyancing firms on their approved list of lawyers. Typical examples of such criteria being that a firm must not be a sole practitioner. As well as restricting the profile of firm, a few lenders have reduced the amount of firms they allow to act for them. You should note that Aldermore have no responsibility for the quality of advice provided by any member of Aldermore Conveyancer Panel. Mortgage fraud was a key driver in the reduction of conveyancing panels since 2008 even though there remains differing opinions regarding the extent of solicitor involvement in some of that fraud. Data from the Land Registry reveal that plenty of law firms, including some in or near Pencader only perform a couple conveyances per annum.
I need to find a conveyancing solicitor for freehold conveyancing in Pencader. I happened to chance upon a site which appears to be the ideal solution If it is possible to get all this stuff completed via phone that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What are your top tips when it comes to choosing a Pencader conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Pencader conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Pencader conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:
What are the legal fees for lease extension conveyancing? What volume of lease extensions has the firm conducted in Pencader in the last twenty four months?
I own a 2 bed flat in Pencader, conveyancing was carried out March 2011. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Pencader with an extended lease are worth £227,000. The average or mid-range amount of ground rent is £50 yearly. The lease finishes on 21st October 2089
With 71 years left to run the likely cost is going to span between £9,500 and £11,000 plus costs.
The figure 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 comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.
If instructed can a conveyancer remove someone from the title of my home in Pencader ?
Removing or adding someone to the title of your house is relatively straightforward. You’ll need to appoint a solicitor to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a property lawyer