My husband and I are getting closer to an exchange on a property in Witney and my parents have transferred the exchange deposit to my conveyancer. I am now advised that as the deposit has not come from me my conveyancer needs to disclose this to my bank. I am advised that, 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 disclosed to the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The lawyer is obliged to check with lender to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I am the registered owner of a freehold property in Witney but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Witney and has limited impact for conveyancing in Witney 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Me and my brother purchased a 4 bedroom Edwardian house in Witney. Conveyancing lawyer represented me and National Westminster Bank. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Witney and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing practitioner who completed the work.
Am I best advised to choose a Witney conveyancing lawyer who is local to the property I am purchasing? We have a good friend who can handle the legal formalities however her office is approximately 350kilometers away.
The benefit of a local Witney conveyancing practice is that you can drop in to sign documents, hand in your identification documents and pester them where appropriate. They will also have local insight which is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and on the whole were impressed that should trump using an unknown Witney conveyancing lawyer just because they are based in the area.
Why do I have to supply my property lawyer with a list of items of ID ahead of starting selling or purchasing a property in Witney?
Witney property lawyers are duty bound by the Law Society, SRA, HMLR and current Money Laundering legislation to record that the have verified the identity of their clients. It will also be a requirement of your lender if you are obtaining a mortgage. In addition they have to complete various forms, particularly those relating to stamp duty land tax and need to have details such as your full names, national insurance number and date of birth.