My wife and I are getting closer to an exchange on a flat in Cullercoats and my mum and dad have transferred the 10% deposit to my solicitor. I am now informed that as the deposit has been received from someone other than me my conveyancing practitioner needs to disclose this to my lender. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I informed the bank about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
The property lawyer is duty bound to check with lender to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
What is the first thing I need to know about purchase conveyancing in Cullercoats?
Not many law firms shout this from the rooftops but conveyancing in Cullercoats and elsewhere in England and Wales is often a confrontational experience. In other words, when it comes to conveyancing there exists plenty of room for conflict between you and others involved in the home moving process. For instance, the seller, property agent and sometimes your mortgage company. Choosing a lawyer for your conveyancing in Cullercoats should not be taken lightly as your conveyancer is your adviser, and is the ONE party in the process whose role it is to look after your legal interests and to keep you safe.
We are witnessing a worrying creep of a "blame" culture- someone must be blamed for the process being so protracted. You your first instinct should be to trust your solicitor above all other parties in the home moving process.
I purchased a terraced Victorian house in Cullercoats. Conveyancing solicitor acted for me and Barnsley Building Society. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold under the matching property. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cullercoats and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing practitioner who carried out the work.
About to purchase a new build flat in Cullercoats. 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 conveyancing.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Cullercoats
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. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I opted to have a survey carried out on a property in Cullercoats prior to instructing conveyancers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies will not give a loan on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions from Halifax. Should you wish to call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Cullercoats. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Cullercoats to see if the conveyancing costs will increase in light of this.