My partner and I are getting closer to an exchange on a property in Holly Village and my mum and dad have sent the exchange deposit to my lawyer. I am now told that as the deposit has not arrived from me my solicitor needs to make a notification to my bank. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the bank concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your solicitor is duty bound 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 report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Can you clarify what the consequences are if my solicitor is expelled from the RBS Solicitor panel ahead of completing my conveyancing in Holly Village?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
We are downsizing from our home in Holly Village and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any high street Holly Village lawyer would know this is not the case. It does beg the question why the buyers used a nationwide conveyancing practice rather than a conveyancing solicitor in Holly Village. Having lived in Holly Village for many years we know that this is a non issue. Do we get in touch with our local Authority to obtain clarification that there is no issue.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Are there restrictive covenants that are commonly identified during conveyancing in Holly Village?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Holly Village. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
The estate agent has sent us the confirmation of our purchase of a new build apartment in Holly Village. Conveyancing is daunting 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 conveyancing.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Holly Village
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are architect prepared. 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.
Can you offer any advice when it comes to appointing a Holly Village conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Holly Village conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Holly Village conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:
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Can they put you in touch with clients in Holly Village who can give a testimonial? What are the costs for lease extension work?
We have reached the end of our tether in trying to purchase the freehold in Holly Village. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Holly Village conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Holly Village residence is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case related to 2 flats. The number of years remaining on the existing lease(s) was 56 years.