A loan agreement from NatWest for the refinancing of my 4 bedroom flat is due any day now. Could you put forward a low cost conveyancing lawyer in Southbourne?
This site is not designed to assist those in their quest for the cheapest conveyancing in Southbourne. Our aim is to provide value for money conveyancing but we do not aim to work with the cheapest lawyers. Resist the temptation to appoint brokers seducing you with £99 conveyancing in Southbourne. Optimistically, in choosing a lawyer for low cost conveyancing, you will earn what you pay for and at worst you will end up with a surprising uplift in additional fees and still not end up with the service you were looking for.
My wife and I are nearing an exchange on a property in Southbourne and my mum and dad have transferred the exchange deposit to my property lawyer. I am now told that as the deposit has been sent from someone other than me my conveyancing practitioner needs to disclose this to my mortgage company. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
Your conveyancer is obliged to check with lender to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
I am the registered owner of a freehold house in Southbourne yet pay rent, why is this and what is this?
It’s unusual for properties in Southbourne and has limited impact for conveyancing in Southbourne but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
Will my lawyer be asking questions regarding flooding during the conveyancing in Southbourne.
Flooding is a growing risk for conveyancers dealing with homes in Southbourne. Some people will purchase a property in Southbourne, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, but there are a number of checks that can be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Southbourne. The standard completed inquiry forms supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the owner to discover whether the premises has suffered from flooding. If the residence has been flooded in past which is not notified by the vendor, then a buyer may bring a legal claim for losses as a result of such an inaccurate response. A purchaser’s lawyers may also conduct an enviro report. This will higlight whether there is a recorded flood risk. If so, additional investigations should be carried out.
I have recentlybecome aware that Stirling Law have closed. They carried out my conveyancing in Southbourne for a purchase of a leasehold flat 10 months ago. How can I be sure that my home is not still registered in the name of the former proprietor?
The easiest way to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Southbourne conveyancing specialists.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one near me in Southbourne I like with open areas and station in the vicinity, the downside is that it only has 49 years unexpired on the lease. There is not much else in Southbourne in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you require a home loan the shortness of the lease may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you may ask them to 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 consult your conveyancing solicitor concerning this matter.