My wife and I are nearing an exchange on a house in Droylsden and my parents have transferred the exchange deposit to my lawyer. I am now informed that as the deposit has been sent from someone other than me my conveyancer needs to make a notification to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I disclosed to the mortgage company about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The solicitor is legally required to clarify with the bank to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
It is 10 years ago since I purchased my property in Droylsden. Conveyancing solicitors have just been retained on the sale but I am unable to find the title deeds. Will this cause complications?
Don’t worry too much. First the deeds may be retained by the mortgage company or they may be in the possession of the lawyers who acted in the purchase. Secondly the chances are that the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring up to date copy of the land registers. Most conveyancing in Droylsden relates to registered property but in the unlikely event that your home is unregistered it adds to the complexity but is resolvable.
Just acquired a detached house in Droylsden , how long will it take for the Land Registry to register my ownership? My Droylsden conveyancing solicitor has been painfully slow, so I want to check that my ownership is recorded.
There is nothing unique when it comes to conveyancing in Droylsden registration formalities. As opposed to being determined by geographic area, timeframes can adjust depending on the party submitting the application, whether it is in order and if the Land registry communicate with any other persons or bodies. Currently in the region of 80% of such applications are fully addressed within two weeks but occasionally there can be protracted hold-ups. Historically registration is effected once the purchaser is living at the property thus post completion formalities is not usually an essential issue but if there is a degree of urgency associated with the registration then you or your solicitor can speak with the land registry and explain the circumstances.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one close by in Droylsden I like with a park and station in the vicinity, however it only has 49 years on the lease. There is not much else in Droylsden for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a home loan the shortness of the lease will be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
My business partner and I are intending to lease a unit on a shopping parade. Can you recommend lawyers offering no-sale-no fees for commercial conveyancing in Droylsden for below 1500k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Droylsden, including the sale and acquisition of businesses as well as simply property. Whether you are intending to buy or sell a shop, pub, restaurant, office, retail unit or a complete business we can put you in touch with the right firm. As for the fees this will depend on the structure and complexity of the proposed transaction. Please provide us with your details or email us so that we may furnish you with a detailed commercial conveyancing calculation.