My partner and I are only a couple days away from an exchange on a property in Raynes Park and my parents have transferred the exchange deposit to my property lawyer. I am now informed that as the deposit has not arrived from me my solicitor needs to make a notification to my bank. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your solicitor is duty bound to clarify with lender to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one near me in Raynes Park I like with a park and railway links in the vicinity, the downside is that it only has 49 years on the lease. I can't really find anything else in Raynes Park for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage that many years will be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
I am selling my property. My former conveyancers have shut. I would be grateful for any recommendation of a conveyancing firm. Im based in Raynes Park if that makes a difference.
You should use our search tool to help you choose a solicitor for your conveyancing in Raynes Park. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.
Having had my offer accepted I require leasehold conveyancing in Raynes Park. Before I get started I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and most are in Raynes Park - then the leasehold title will always include the short particulars 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.
After years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Raynes Park. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We can put you in touch with a Raynes Park conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Raynes Park property is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case was in relation to 1 flat. The unexpired term was 60.43 years.
I note that you have a post code search directory identifying law firms on the lender conveyancing panel. Do Raynes Park conveyancing companies pay you a commission if I retain them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Raynes Park.