My partner and I are nearing an exchange on a flat in Bletchley and my mum and dad have sent the 10% deposit to my conveyancer. I am now advised that as the deposit has been sent from someone other than me my conveyancing practitioner needs to make a notification to my bank. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the lender regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your solicitor is obliged to clarify with lender to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Should commercial conveyancing searches reveal planned roadworks that may impact a commercial premises in Bletchley?
Many commercial conveyancing solicitors in Bletchley will perform a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Bletchley. The search result sets out definitive data 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 Bletchley.
For each commercial conveyancing transaction in Bletchley it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Bletchley commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Bletchley.
I am buying a new build apartment in Bletchley. Conveyancing is daunting 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 conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Bletchley
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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan.
Due to the advice of my in-laws I had a survey completed on a house in Bletchley in advance of instructing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some mortgage companies will not grant a mortgage on this type of home.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. If you call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bletchley. Conveyancing will be smoother if you use a solicitor in Bletchley especially if they are familiar with such properties in Bletchley.
If all goes to plan we aim to complete the disposal of our £225,000 flat in Bletchley in just under a week. The landlords agents has quoted £312 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Bletchley?
Bletchley conveyancing on leasehold apartments usually necessitates the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to assist. They may levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, otherwise the charge is technically not due. In reality you have little option but to pay whatever is demanded if you want to complete the sale of your home.
Bletchley Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying
Be sure to discover if there is anything that is prohibited in the lease. For example some leases prohibit pets being allowed in in a block in Bletchley. If you love the apartmentin Bletchley yet your dog can’t make the move with you then you will be presented with a difficult determination. It is important to be aware if redecorating or some other major work is pending to be shared between the tenants and will materially increase the the service fees or result in a one time invoice. Most Bletchley leasehold properties will incur a service charge for maintenance of the building set on behalf of the management company. Where you buy the property you will have to meet this amount, usually in instalments accross the year. This could differ from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all likelihood there will be a ground rent for you to pay annual, this is usually not a significant sum, say about £50-£100 but you should to check it because on occasion it could be surprisingly expensive.