My partner and I are only a couple days away from an exchange on a house in Chipping Norton and my parents have sent the ten percent deposit to my conveyancing practitioner. I am now told that as the deposit has not come from 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 coming from anyone other than me. I advised the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The lawyer is obliged to clarify with mortgage company to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Can you explain why leasehold purchase conveyancing in Chipping Norton costs more?
Chipping Norton leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
The estate agent has sent us the confirmation of our purchase of a new build flat in Chipping Norton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Chipping Norton
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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. There must be mutual enforceability of lessee’s covenants. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I opted to have a survey done on a house in Chipping Norton before retaining lawyers. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some lenders will refuse to issue a mortgage on such a premises.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. If you contact us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Chipping Norton. Conveyancing will be smoother if you use a solicitor in Chipping Norton especially if they are acquainted with such properties in Chipping Norton.
I am four weeks into a residential purchase having been recommend to solicitors by the selling agent to execute conveyancing in Chipping Norton. We are not happy. Could you help me find new solicitors?
They would need to be very poor to suggest changing them. Has the mortgage offer been sent? In the event that it has you will need to advise them of the new contact details and have the mortgage documents are issued to the new lawyers. The conveyancer needs to be on the lenders panel to avoid escalating fees and delays. So that should be your first question of the new solicitors. The search tool should help you find a bank approved conveyancer for your conveyancing in Chipping Norton
Me and my husband are buying a leasehold flat in Chipping Norton. Conveyancing quotes are averaging around £1800. Does that seem right?
The average fee in 2014 for conveyancing in Chipping Norton was £1,395 excluding SDLT and HMLR charges.