I am nearing an exchange on a flat in Ripley and my mum and dad have transferred the ten percent deposit to my property lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your solicitor is obliged to check with the bank to make sure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
We're in Ripley, First timers buying with a mortgage (lender is Lloyds , and our lawyer is on the Lloyds conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Lloyds conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
How does conveyancing in Ripley differ for new build properties?
Most buyers of new build property in Ripley contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Ripley usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Ripley or who has acted in the same development.
What makes your site different to alternative web based conveyancing solicitors for conveyancing in Ripley?
At this site secure a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in Ripley. Unlike many estate agents and brokerage sites we are not in the business of charging firms a commission if you choose them for your property ownership legalities in Ripley
I have just started marketing my garden apartment in Ripley. Conveyancing has not commenced, however I have recently had a quarterly service charge invoice – should I leave it to the buyer to sort out?
It best that you discharge the invoice as usual as all ground rent and maintenance payments should be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until 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. This will smooth the conveyancing process.
I own a 1 bedroom flat in Ripley, conveyancing having been completed April 2012. How much will my lease extension cost? Similar flats in Ripley with over 90 years remaining are worth £181,000. The ground rent is £55 per annum. The lease ceases on 21st October 2069
You have 51 years remaining on your lease we estimate the premium for your lease extension to span between £30,400 and £35,200 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.