My husband and I are nearing an exchange on a flat in Little Haven and my parents have sent the 10% deposit to my solicitor. I am now told that as the deposit has been sent from someone other than me my property lawyer 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 advised the lender about my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The conveyancer is legally required to clarify with lender to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Various web forums that I have visited warn that are the primary cause of hinderance in Little Haven conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of slowing down conveyancing in Little Haven.
I am buying a new build apartment in Little Haven. Conveyancing is a frightening process 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 are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Little Haven
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Due to the guidance of my in-laws I had a survey completed on a house in Little Haven prior to appointing lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some banks tend refuse to issue a mortgage on this type of premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. Should you wish to call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Little Haven. Conveyancing will be smoother if you use a solicitor in Little Haven especially if they are accustomed to such properties in Little Haven.
We're new on the property ladder - agreed a price, but the property agent advised that the owners will only move forward if we instruct the agent's recommended solicitors as they want an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer who is accustomed to conveyancing in Little Haven
It is unlikely the owners are behind this. Should the seller want ‘a quick sale', turning down a serious purchaser is not the way to achieve this. Try to communicate with the sellers directly and make the point that (a)you are serious buyers (b)you are ready to progress, with finances arranged © you are unencumbered (d) you wish to move quickly (e)however you intend to appoint your own,trusted Little Haven conveyancing firm - not the ones that will earn their estate agent a kickback or achieve conveyancing targets pre-set by head office.
I pay a service charge for my appartment in Little Haven. Due to losing my job and personal issues I slipped behind with payments. I negotiated a settlement schedule but there remains in the region of £2000 currently outstanding.
I am under pressure to dispose of the property and I am panicking this could jeopardize the sale if I have to settle the amount due now. I'd like to sell up and then repay the debt from the completion monies - is this possible?
It would be wise to speak with the lawyer conducting your Little Haven conveyancing but it may be possible to agree for the arrears to be attributed to the purchasers. The final price due would be adjusted to reflect the amount of debt they take on. They could then deal with the fees once they are the owners.