I am nearing an exchange on a house in Wallsend and my mum and dad have transferred the 10% deposit to my solicitor. I am now advised that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my bank. 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 informed the lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
The solicitor is legally required to check with mortgage company to make sure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Do I have to have a meeting at the offices of the solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Wallsend so that I can attend their offices when needed.
Nowadays approved lawyers for mortgage companies carry out the vast majority of communications through the post, e-mail or over phone calls. This means that they can undertake the conveyancing transaction regardless of where you live in the country. Nevertheless you should check if you can still book an appointment to visit conveyancing lawyer if you prefer.
I used Arc property Solicitors a few years past for my conveyancing in Wallsend. I now require my file but the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Wallsend of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
What does commercial conveyancing in Wallsend cover?
Commercial conveyancing in Wallsend incorporates a wide range of services, given by qualified solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer 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 loans and the termination of leases.
I need to instruct a conveyancing solicitor for residential conveyancing in Wallsend. I've chance upon a web site which looks to be the perfect offering If it is possible to get all this stuff done via web that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Last February I purchased a leasehold house in Wallsend. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).
I am the registered owner of a basement flat in Wallsend, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Wallsend with over 90 years remaining are worth £265,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2101
With 76 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.