My husband and I are getting closer to an exchange on a flat in Egremont and my mum and dad have sent the ten percent deposit to my lawyer. I am now advised that as the deposit has not come from 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 not just from me. I disclosed to the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
Your conveyancing practitioner is duty bound to check with mortgage company 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 permit them to, failing which, your lawyer must cease to continue acting.
Completed the sale of my flat in Egremont last October but my buyer keeps SMS messaging daily complaining that their lawyer is waiting to hear from mine. What are the post completion sale legalities following completion?
Following your sale your conveyancer should deliver the transfer deeds and all supplemental paperwork to the purchaser's conveyancer. Where relevant, your lawyer should also send confirmation that the mortgage has been redeemed to the buyers conveyancers. There is unlikely to be post completion requirements unique to conveyancing in Egremont.
About to purchase a new build flat in Egremont. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Egremont
Please confirm the Lease plans are architect prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision.
I have been on the look out for a leasehold apartment up to £235,500 and found one near me in Egremont I like with a park and transport links nearby, however it only has 51 years unexpired on the lease. I can't really find anything else in Egremont in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a mortgage that many years will likely be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
My brother-in-law has suggested I instruct a conveyancing solicitor in Egremont. I need to find out if they are on the bank's approved list of lawyers. Can you help?
You should call your solicitor to enquire if they are on the lender's panel. Alternatively please get in touch with us and we can make some checks for you. Should the firm not be on the bank panel we we can help find a specialist conveyancing solicitor in Egremont on the panel for your lender.