My wife and I are only a couple days away from an exchange on a property in Hassocks and my parents have sent the 10% deposit to my conveyancer. I am now told that as the deposit has not arrived from me my solicitor needs to disclose this to my bank. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I advised the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your conveyancer is duty bound to clarify with lender to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Can you explain why leasehold purchase conveyancing in Hassocks is more expensive?
Hassocks 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.
We were going to get a OIP from Yorkshire BS this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Hassocks solicitors on the Yorkshire BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Hassocks solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
My wife and I are in the process of viewing flats in Hassocks and I am now considering a potential offer. Is it wise to have my conveyancing practitioner on ‘stand by’? I intend to finance via a mortgage with Kent Reliance.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are taking out a mortgage with Kent Reliance, make sure you remember to check that your lawyer is on the Kent Reliance conveyancing panel.
I can not work out if my mortgage offer requires a lease extension. I have telephoned my Hassocks bank branch on numerous occasions and was advised it wasn't an issue and they would lend. My Hassocks conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend in accordance with their specific requirements. Who do I believe?
As long as the solicitor is on the mortgage company panel, they must adhere to the CML Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Will commercial conveyancing searches reveal planned roadworks that may affect a commercial premises in Hassocks?
Its becoming the norm that commercial conveyancing solicitors in Hassocks will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Hassocks. 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 Hassocks.
For every commercial conveyancing transaction in Hassocks it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Hassocks commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Hassocks.
What does commercial conveyancing in Hassocks cover?
Hassocks conveyancing for business premises covers a wide array of guidance, offered by qualified solicitors, relating to business premises. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I’m about to sell my garden flat in Hassocks. Conveyancing solicitors are to be appointed soon, however I have recently received a half-yearly maintenance charge demand – Do I pay up?
It best that you discharge the invoice as you normally would as all rents and maintenance charges should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless 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. This will smooth the conveyancing process.
I acquired a 1 bedroom flat in Hassocks, conveyancing was carried out 4 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Hassocks with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease expires on 21st October 2092
With only 66 years remaining on your lease we estimate the price of your lease extension to be between £11,400 and £13,200 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.