I am only a couple days away from an exchange on a flat in Benfleet and my mum and dad have sent the 10% deposit to my conveyancer. I am now informed that as the deposit has not arrived from me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I informed the mortgage company about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
Your conveyancer is duty bound to clarify with the bank to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
How does conveyancing in Benfleet differ for new build properties?
Most buyers of new build or newly converted property in Benfleet contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is built. This is because new home sellers in Benfleet usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Benfleet or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a house in Benfleet ahead of instructing lawyers. I have been advised that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies tend not issue a mortgage on such a house.
It varies from the lender to lender. Lloyds has different instructions from Halifax. If you contact us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Benfleet. Conveyancing will be smoother if you use a solicitor in Benfleet especially if they are accustomed to such properties in Benfleet.
In what way can the Landlord & Tenant Act 1954 affect my commercial property in Benfleet and how can your lawyers assist?
The 1954 Act affords a safeguard to commercial tenants, granting the legal entitlement to apply to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Benfleet
Should I appoint a Benfleet conveyancing practitioner in close proximity to the house I am hoping to buy? An old friend can perform the conveyancing however her office is over three hundred miles away.
The primary upside of using a local Benfleet conveyancing practice is that you can visit the firm to sign documents, hand in your identification documents and apply pressure on them if necessary. Having local Benfleet know how is a plus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and the majority were impressed that should trump using an unfamiliar Benfleet conveyancing lawyer just because they are based in the area.