My husband and I are getting closer to an exchange on a house in Foots Cray and my mum and dad have sent the ten percent deposit to my solicitor. I am now informed that as the deposit has been received from someone other than 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 not just from me. I advised the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary 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 notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
3 months have elapsed following my purchase conveyancing in Foots Cray concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Foots Cray is the location of the property. What do you suggest?
Flying freeholds in Foots Cray are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Foots Cray you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Foots Cray may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
In scouring the world wide web for the term cheap conveyancing in Foots Cray it reveals numerous solicitorslocally. With so much choice what is the best way to find the right property lawyer for my move?
The ideal method of finding a suitable conveyancer is through a trusted recommendation, so ask friends and family who have purchased a property in Foots Cray or a reputable estate agent or mortgage broker. Charges for conveyancing in Foots Cray vary, so it's a good idea to obtain at least four fee calculations from different conveyancers. Make sure that you clarify what costs in the quote includes.
Back In 2001, I bought a leasehold house in Foots Cray. Conveyancing and TSB mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Foots Cray who acted for me is not around. Any advice?
First contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Foots Cray conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
My wife and I have hit a brick wall in trying to purchase the freehold in Foots Cray. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the sum to be paid.
An example of a Lease Extension decision for a Foots Cray property is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.