My husband and I are getting closer to an exchange on a property in Frimley and my parents have sent the exchange deposit to my solicitor. I am now informed that as the deposit has been received from someone other than me my conveyancing practitioner needs to disclose this to my mortgage company. I am advised that, in also acting for the lender 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 appropriate for this now to be an issue?
The conveyancer is duty bound to clarify with lender to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Are the Frimley conveyancing solicitors identified as being on the Yorkshire BS conveyancing panel, together with their details provided by Yorkshire BS?
Frimley conveyancing firms themselves provide us confirmation that they are on the Yorkshire BS conveyancing panel as opposed to being supplied with a list from Yorkshire BS directly.
I am buying a garden flat in Frimley. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Frimley you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Frimley.
About to purchase a new build flat in Frimley. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Frimley
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There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Can you provide any advice for leasehold conveyancing in Frimley with the intention of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Frimley can be avoided where you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives. The majority of landlords or Management Companies in Frimley charge for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Frimley. If you are supposed to have a share in the freehold, you should ensure that you are holding the original share document. Arranging a replacement share certificate can be a lengthy process and slows down many a Frimley conveyancing transaction. Where a reissued share is needed, do contact the company director and secretary or managing agents (if relevant) for this at the earliest opportunity. You believe that you know the number of years left on your lease but it would be wise to double-check by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
I acquired a leasehold flat in Frimley, conveyancing having been completed June 1999. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Frimley with a long lease are worth £211,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease ends on 21st October 2094
With 68 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.