My husband and I are getting closer to an exchange on a property in Llay and my mum and dad have sent the exchange deposit to my lawyer. I am now advised that as the deposit has been sent from someone other than me my solicitor needs to disclose this to my lender. I am advised that, in also acting for the bank 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 home loan, so is it really appropriate for him to raise this?
The lawyer is obliged 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 reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Do I have to pop into the offices of the solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Llay so that I can attend their offices if required.
These days conveyancing panel lawyers for mortgage companies undertake the vast majority of communications via the post, internet or over phone calls. This means that they can undertake the conveyancing transaction regardless of where you live in the country. However you can check if you have the option of visiting the offices of your conveyancing lawyer if you prefer.
A colleague advised me that if I am purchasing in Llay I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Llay conveyancing searches. It is a large report of more than thirty pages, listing and setting out important information about Llay around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Llay Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Llay Education with maps and statistics, Local Amenities and other useful information about Llay.
Just had an offer accepted on a new build apartment in Llay. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Llay
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. 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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Due to the guidance of my in-laws I had a survey completed on a property in Llay in advance of appointing lawyers. I have been informed that there is a flying freehold overhang to the house. My surveyor advised that some banks may not grant a loan on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. If you contact us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Llay. Conveyancing may be slightly more expensive based on your lender's requirements.
What does commercial conveyancing in Llay cover?
Non domestic conveyancing in Llay incorporates a wide range of advice, given by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases 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.