My wife and I are approaching an exchange on a house in St Agnes and my parents have sent the exchange deposit to my property lawyer. I am now advised that as the deposit has not arrived from me my lawyer needs to make a notification to my bank. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the lender about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The solicitor is legally required to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
My grandmother passed away 10 months ago and as sole heir and executor I was left the property in St Agnes. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this allowed?
Given you plan to refinance then Bank of Ireland will insist on your using a conveyancer on the Bank of Ireland conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bank of Ireland conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bank of Ireland mortgage is registered as a charge at the Land Registry.
I have todaybecome aware that Arc property Solicitors have been shut down. They conducted my conveyancing in St Agnes for a purchase of a leasehold apartment 9 months ago. How can I be sure that my home is registered correctly in the name of the previous owner?
The quickest way to check if the premises is registered to you, 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 St Agnes conveyancing specialists.
I need to find a conveyancing solicitor for my conveyancing in St Agnes. I happened to stumble upon a web site which appears to be the ideal answer If it is possible to get all this stuff done via web that would be ideal. Should I be wary? What should out be looking out for?
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?
Having had my offer accepted I require leasehold conveyancing in St Agnes. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in St Agnes - 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 inherited a 1st floor flat in St Agnes, conveyancing having been completed April 2011. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in St Agnes with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 per annum. The lease terminates on 21st October 2078
With just 60 years unexpired the likely cost is going to be between £20,000 and £23,000 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.