We are getting closer to an exchange on a property in Chichester and my mum and dad have sent the exchange deposit to my conveyancing practitioner. I am now advised that as the deposit has been received from someone other than me my conveyancer needs to disclose this to my lender. 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 disclosed to the bank regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your solicitor is legally required to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
As someone not used to conveyancing in Chichester what is your top tip you can impart for the home moving process in Chichester
You may not hear this from too many lawyers but conveyancing in Chichester and elsewhere in West Sussex is an adversarial process. Put another way, when it comes to conveyancing there exists lots of opportunity for confrontation between you and others involved in the house moving process. For example, the vendor, selling agent and on occasion the bank. Selecting a law firm for your conveyancing in Chichester an important selection as your conveyancer is your adviser, and is the ONLY party in the legal process whose role it is to look after your legal interests and to keep you safe.
On occasion a potential adversary may try and sway you that it is in your interests to do things their way. As an example, the selling agent may claim to be assisting by claiming that your solicitor is dragging his heels. Or your financial adviser may advise you to do something that is against your conveyancers guidance. You should always trust your lawyer above all other parties in the home moving process.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Chichester. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 6/5/2025, the requirements read as follows :
I am buying a new build apartment in Chichester. Conveyancing is necessary evil 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.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Chichester
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one close by in Chichester I like with amenity areas and transport links nearby, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Chichester for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan that many years will likely be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I have just appointed agents to market my basement apartment in Chichester.Conveyancing is yet to be initiated however I have recently received a quarterly service charge invoice – Do I pay up?
The sensible thing to do is discharge the service charge as normal as all ground rent and maintenance payments should be allottedas part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially