My husband and I are only a couple days away from an exchange on a house in Horwich and my mum and dad have sent the 10% deposit to my 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 bank. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the bank concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The property lawyer is duty bound to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
My partner and I are downsizing from our home in Horwich and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. A local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers are using a national conveyancing firm rather than a conveyancing solicitor in Horwich. We have lived in Horwich for many years we know that this is a non issue. Do we contact our local Authority to obtain clarification need.
It would appear that you have a conveyancing firm currently acting for you. What do they say? You need to enquire of 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 health insurance to cover that same ailment)
Me and my brother have a semi-detached Edwardian house in Horwich. Conveyancing solicitor acted for me and Barclays . I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Horwich and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with the conveyancing practitioner who conducted the work.
Just had an offer accepted on a new build flat in Horwich. 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 conveyancing.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Horwich
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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? 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. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants.
I am employed by a long established estate agent office in Horwich where we see a few leasehold sales jeopardised as a result of short leases. I have received inconsistent advice from local Horwich conveyancing firms. Could you confirm whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Leasehold Conveyancing in Horwich - Examples of Questions you should consider before buying
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How much is the maintenance charge and ground rent on the flat? The best form of lease arrangement is a share of the freehold. In this situation the tenants have being in charge if their destiny and although a managing agent is frequently retained if it is larger than a house conversion, the managing agent is directed by the tenants. How many of the leaseholders are in arrears for their maintenance charge payments?
Are you able recommend a good conveyancing practitioner to do the acquisition of a flat in Horwich. With any luck we will secure the flat for £165000 with a mortgage from Nationwide. We live in Horwich but dont care where they are.
LenderPanel.com is limited to being a directory service for lawyers who want to be listed as being on the approved conveyancing panel for Nationwide in certain areas for example Horwich . Our intention is not to recommend any specific conveyancing practitioner.