I am only a couple days away from an exchange on a flat in Desborough and my mum and dad have sent the exchange deposit to my property lawyer. I am now advised that as the deposit has been received from someone other than me my solicitor needs to disclose this to my mortgage company. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
The conveyancing practitioner is legally required to clarify with mortgage company to make sure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
We are planning to acquire a house and need a conveyancing solicitor in Desborough who is on the Clydesdale conveyancing panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Clydesdale . We don't recommend any particular firms conducting conveyancing in Desborough.
Do commercial conveyancing searches reveal planned roadworks that may impact a commercial estate in Desborough?
Its becoming the norm that commercial conveyancing solicitors in Desborough will execute a SiteSolutions Highways report as it reduces the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Desborough. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Desborough.
For each commercial conveyancing transaction in Desborough it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may result in delays to Desborough commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Desborough.
Due to the advice of my in-laws I had a survey completed on a property in Desborough before appointing solicitors. I have been advised that there is a flying freehold aspect to the property. The surveyor has said that some lenders tend not issue a mortgage on such a house.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. If you call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Desborough. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to instruct a conveyancing solicitor for purchase conveyancing in Desborough. I happened to stumble across a site which appears to be the ideal answer If it is possible to get all formalities done via phone that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I've recently bought a leasehold property in Desborough. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a garden flat in Desborough, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Desborough with over 90 years remaining are worth £202,000. The ground rent is £60 invoiced every year. The lease runs out on 21st October 2082
With 57 years unexpired we estimate the price of your lease extension to span between £28,500 and £33,000 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.