We are getting closer to an exchange on a flat in Messingham and my mum and dad have sent the ten percent deposit to my lawyer. I am now advised that as the deposit has not arrived from me my conveyancer needs to make a notification to my mortgage company. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your lawyer is obliged to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
I have been told that property searches are the main cause of hinderance in Messingham conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of slowing down conveyancing in Messingham.
Are there restrictive covenants that are commonly identified as part of conveyancing in Messingham?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Messingham. 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…’
How does conveyancing in Messingham differ for newly converted properties?
Most buyers of new build residence in Messingham contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Messingham typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Messingham or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what should have been a simple, no chain conveyancing. Messingham is the location of the property. Can you offer any guidance?
Flying freeholds in Messingham are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Messingham you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Messingham may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
What does commercial conveyancing in Messingham cover?
Messingham conveyancing for business premises covers a broad array of services, supplied by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies 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 leases.