I am nearing an exchange on a house in Torquay and my parents 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 solicitor needs to make a notification 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 coming from anyone other than me. I informed the mortgage company about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your conveyancing practitioner is obliged to check with the bank to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
The Torquay conveyancing solicitors that I appointed last week on my purchase in Torquay have without warning closed. They were on acting for me because I had to have a solicitor on the Co-operative conveyancing panel and my family Torquay lawyer was not. I gave my credit card details for them to take £195 for searches. What should be my next steps?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Co-operative conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
Do commercial conveyancing searches disclose proposed roadworks that could affect a commercial estate in Torquay?
Its becoming the norm that commercial conveyancing solicitors in Torquay will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Torquay. The report sets out definitive information 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 Torquay.
For each commercial conveyancing transaction in Torquay it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may result in delays to Torquay commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Torquay.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Torquay. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Torquay
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
In what way does the Landlord & Tenant Act 1954 affect my business offices in Torquay and how can your lawyers assist?
The particular law that you refer to affords a safeguard to business tenants, giving them the dueness to make a request to court for a new tenancy and continue in occupation when the lease comes to an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Torquay is one of our numerous locations in which the firms we work with are located
We are 3 weeks into a freehold purchase having been referred to a firm by the estate agent to do our conveyancing in Torquay. We are not happy. Could you help me find new conveyancers?
They would need to be very bad in order to consider changing them. Has the mortgage been issued? In the event that it has you need to make them aware of the new contact details and ensure the mortgage documents are issued to the new lawyers. Your new conveyancer should be on the lenders approved list to avoid added charges and frustration. That should be your first question of the new solicitors. Our find a solicitor tool should assist you in finding a bank approved solicitor for your home move in Torquay