My husband and I are nearing an exchange on a property in Portslade and my parents have sent the exchange deposit to my property lawyer. I am now advised that as the deposit has been sent from someone other than me my property lawyer 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 informed the bank concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The solicitor is obliged to check with the bank 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 lender if you permit them to, failing which, your lawyer must cease to continue acting.
Do commercial conveyancing searches reveal impending roadworks that could affect a commercial estate in Portslade?
Its becoming the norm that commercial conveyancing solicitors in Portslade will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Portslade. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Portslade.
For each commercial conveyancing transaction in Portslade it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Portslade commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Portslade.
I have been on the look out for a leasehold apartment up to £235,500 and found one close by in Portslade I like with a park and railway links nearby, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Portslade for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage that many years will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
How difficult is it to swap solicitor as I have to select one who is on the Clydesdale conveyancing list. I instructed a family conveyancing solicitor in Portslade round the corner but the firm is not approved by Clydesdale
We will our best to assist in finding you a conveyancing solicitor in Portslade on the Clydesdale panel. Please note that the conveyancers that we on the directory do not pay us commission if you instruct them and are fully regulated by the SRA who oversee all conveyancing solicitors in Portslade. Using search facility on this page, you can contrast charges for conveyancing solicitors in Portslade and throughout England and Wales.
I need to instruct a conveyancing lawyer in Portslade for my purchase. Is it possible to see a firm’s complaints history with the legal regulator?
One can read published Solicitor Regulator Association (SRA) decisions stemming from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. For details Pre 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The regulator sometimes recorded call for training requirements.
Last July I purchased a leasehold house in Portslade. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Portslade - A selection of Questions you should consider Prior to buying
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In the main the cost for major works tend not to be incorporated into the service charges, albeit that a few managing agents in Portslade obliged leaseholders to contribute towards a reserve fund created for the specific intention of establishing a fund for larger works. You will want to find out as much as possible concerning the company managing the block as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to every day matters such as the tidiness of the communal areas. Enquire of other people if they are happy with their management. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the appropriate party and precisely how they are spending that money. Most Portslade leasehold properties will incur a service bill for the upkeep of the block set on behalf of the management company. Should you buy the flat you will have to pay this charge, usually periodically during the year. This can vary from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a rentcharge for you to pay yearly, this is usually not a exorbitant amount, say about £25-£75 but you need to enquire it because on occasion it can be many hundreds of pounds.