My wife and I are getting closer to an exchange on a house in Tisbury and my mum and dad have transferred the 10% deposit to my conveyancer. I am now informed that as the deposit has been sent from someone other than me my solicitor needs to make a notification to my mortgage company. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender regarding 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 duty bound to clarify with mortgage company to ensure that they understand 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.
three months have elapsed following my purchase conveyancing in Tisbury concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
What does commercial conveyancing in Tisbury cover?
Tisbury conveyancing for business premises covers a broad range of advice, given by qualified solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
I am thinking of appointing a conveyancing solicitor in Tisbury for my remortgage. Can I review a solicitor's complaints history with the legal regulator?
Members of the public may find published Solicitor Regulator Association (SRA) decisions arising from investigations started on or after 1 January 2008. Go to Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training requirements.
Do you have any advice for leasehold conveyancing in Tisbury from the perspective of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Tisbury can be reduced if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the buyers’ representatives. Some Tisbury leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers. If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to ongoing. The majority of landlords or Management Companies in Tisbury charge for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Tisbury.
Tisbury Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
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Generally speaking the outlay for major works tend not to be included within service charges, although some managing agents in Tisbury require leaseholders to pay into a sinking fund and this is used to offset against major repairs or maintenance. Its a good idea to find out as much as you can about the company managing the building as they will impact your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to practical issues like the cleanliness of the communal areas. Ask other tenants what they think of their service. Finally, investigate as to the dates that the maintenance charges are due to the appropriate party and precisely what it includes. It is important to be aware whether window replacement or some other major work is pending that will be shared by the leaseholders and will dramatically impact the level of the service charges or necessitate a specific payment.
Builders have recommended to me a lawyer and I've received a quote from them. It's almost £300 less expensive than my own Tisbury property lawyer. What's the catch?
Housebuilders normally have panels of lawyers who are quick and who know the seller’s documentation and property lawyer. Plenty of developers offer an inducement to choose a preferred property lawyer for this reason, any increased charges can be avoided and a builder won't recommend a conveyancing factory and run the risk of having the conveyancing delayed when they demand an exchange within a tight time frame. The argument for not agreeing to use the suggested conveyancing practitioner is that they may prove reluctant to fight for your interests at the risk of alienating the housebuilder. Where you have concerns that this may be the situation you should keep with your high street Tisbury lawyer.