My wife and I are getting closer to an exchange on a house in Benfleet and my parents have transferred the 10% deposit to my property lawyer. I am now advised that as the deposit has been received from someone other than me my conveyancing practitioner needs to disclose this to my bank. 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 mortgage company concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
Your property lawyer is legally required to check with lender to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Should conveyancers request money on account for my conveyancing in Benfleet?
Where you are retaining lawyers for conveyancing in Benfleet your solicitor will request that you to provide them with monies to cover the the cost of the conveyancing searches. Generally this is requested to cover the fees of the conveyancing searches. If any deposit is as part of the purchase price then this will be asked for shortly in advance of contracts are exchanged. Any further balance that is needed will be payable a few days prior to the completion date.
A colleague advised me that if I am purchasing in Benfleet I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes included in the estimate for your Benfleet conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Benfleet around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Benfleet Education with plans and statistics, Local Amenities and other useful information about Benfleet.
I have been on the look out for a ground for flat up to £245,000 and identified one round the corner in Benfleet I like with amenity areas and railway links nearby, the downside is that it only has 52 years on the lease. I can't really find anything else in Benfleet suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage the shortness of the lease may be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
I am a sole trader hoping to take over a lease of a shop on a shopping parade. Can you recommend solicitors offering competitive fees for non-domestic conveyancing in Benfleet for under £2000?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Benfleet, including the disposal and purchase of businesses as well as simply premises. If you are looking to purchase or dispose of a shop, pub, restaurant, office, retail unit or a whole business we can put you in touch with the right firm. As for the fees this will depend on the structure and heads of terms of the proposed transaction. Please provide us with your contact information or telephone us so that we may furnish you with a detailed commercial conveyancing quote.
Online research suggests that Benfleet solicitors are more expensive than licensed conveyancers in Benfleet when it comes to purchasing a property. Am I better off using a conveyancer or a solicitor where I am purchasing for my home move in Benfleet.
When it comes to conveyancing in Benfleet the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.