My wife and I are only a couple days away from an exchange on a flat in Merseyside and my parents have transferred the 10% deposit to my lawyer. I am now informed that as the deposit has been sent from someone other than me my solicitor needs to disclose this to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?
Your conveyancer is duty bound to check with the bank to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Can your site be used to locate a Conveyancing solicitor in Merseyside even where I’m not purchasing or selling a house, for instance if I intend to acquire an office in Merseyside with a loan from Yorkshire Building Society?
The service is predominantly there to get a quote from residential conveyancing solicitors in Merseyside but we have set out at the bottom of this page a selection of Merseyside commercial conveyancing firms. You should enquire with the firm directly to establish if they can also act for Yorkshire Building Society
Over the last few months I have been searching for a flat up to £195,000 and found one near me in Merseyside I like with open areas and station in the vicinity, the downside is that it only has 52 years on the lease. I can't really find anything else in Merseyside for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan the remaining unexpired lease term will be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
My father has recommend that I use his conveyancing solicitors in Merseyside. Do I take his recommendation?
There are no two ways about it the best way to find a conveyancing practitioner is to have feedback from friends or family who have experience in using the firm that you are are thinking of instructing.
What are your top tips when it comes to finding a Merseyside conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Merseyside conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggest that you talk with several firms including non Merseyside conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be useful:
-
How many lease extensions has the firm conducted in Merseyside in the last year?
Merseyside Leasehold Conveyancing - Sample of Questions you should ask before Purchasing
-
Please inform me if there are any major works anticipated that could increase the maintenance fees? It is important to be aware whether fixing the lift or some other significant cost is due shortly to be shared between the tenants and may well dramatically impact the level of the maintenance fees or require a specific invoice. Does the lease include onerous restrictions?
Is it true that a Merseyside conveyancing practice got sued by a client for not carrying out the right conveyancing investigations?
We are not aware of such a Merseyside conveyancing matter but according to a recent report, a couple buying a home in Cumbria successfully won a case against their conveyancing practitioner as a consequence of development plans to construct a wind farm failing to be picked up in conveyancing searches.
If you are purchasing in Merseyside It is essential that your lawyer carry out all Merseyside conveyancing searches needed making sure that you have accurate and up to date information ahead of acquiring a home in Merseyside.