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Recently asked questions about conveyancing in Ramsey

My wife and I are only a couple days away from an exchange on a property in Ramsey and my parents have transferred the 10% deposit to my conveyancing practitioner. I am now advised that as the deposit has not come from me my solicitor needs to disclose this to my lender. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I informed the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?

The conveyancing practitioner is legally required to check with the bank to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.

I am the registered owner of a freehold house in Ramsey but nevertheless charged rent, why is this and what is this?

It’s unusual for properties in Ramsey and has limited impact for conveyancing in Ramsey but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.

Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.

We're novice buyers - agreed a price, but the selling agent told us that the owners will only proceed if we appoint the agent's preferred solicitors as they need a ‘quick sale’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Ramsey

We suspect that the seller is not behind this demand. If they desire ‘a quick sale', alienating a serious purchaser is going to damage their objectives. Speak to the owners direct and make the point that (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you intend to instruct your own,trusted Ramsey conveyancing firm - not the ones that will earn their estate agent a commission or achieve conveyancing thresholds set by senior management.

I’m about to sell my ground floor flat in Ramsey. Conveyancing has not commenced, however I have just had a half-yearly maintenance charge demand – what should I do?

It best that you pay the invoice as normal given that all rents and maintenance payments should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

Ramsey Leasehold Conveyancing - Sample of Queries before buying

    The best form of lease arrangement is where the freehold title is in the ownership of the leaseholders. In this scenario the tenants enjoy being in charge if their destiny and notwithstanding that a managing agent is usually employed if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Make sure you enquire if the the lease includes any onerous restrictions in the lease. For instance some leases prohibit pets being permitted in in a block in Ramsey. If you love the propertyin Ramsey but your cat can’t move with you then you have a very hard determination.

My aim is to acquire a ground floor maisonette in Ramsey. Conveyancing lawyer is awaiting, from the seller, building insurance documents. I was told today I was informed that the owner must forward the insurance paperwork for the flat above as well. Why does my property lawyer need to see the insurance for the flat above? Is it strictly necessary? We have been stalled for the last two weeks…

It is not impossible in leasehold conveyancing in Ramsey to discover Conveyancing in Ramsey in a minority of cases reveals that the lease provides for the leasehold owners to insure their individual flats rather than the freeholder insuring the entire premises - which is clearly better. You should contact your property lawyer but it would appear that your conveyancer is seeking to verify that the whole building is insured. Insuring your residence is no help when it comes to rebuilding after a fire if the 1st floor cannot be reinstated as a result of lack of insurance cover.

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