My partner and I are getting closer to an exchange on a flat in Hanslope and my mum and dad have sent the 10% deposit to my property lawyer. I am now informed that as the deposit has not come from me my conveyancer needs to make a notification 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 advised the lender regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
Your conveyancer is obliged to check with mortgage company to make sure that they know that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I purchased a freehold house in Hanslope but nevertheless pay rent, why is this and what is this?
It is rare for properties in Hanslope and has limited impact for conveyancing in Hanslope but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I require fast conveyancing in Hanslope as I have pressure to exchange contracts in less than 4 weeks. Fortunately I do not need a mortgage. Is it possible to decline from having conveyancing searches to save money and time?
As you are are a mortgage free purchaser you have the choice not to do searches although no law firm would advise that you don't. Drawing on years of experience of conveyancing in Hanslope the following are instances of issues that can be revealed and adversely affect future saleability: Enforcement Notices, Outstanding Charges, Overdue Grants, Unadopted Roads,...
How does conveyancing in Hanslope differ for newly converted properties?
Most buyers of new build residence in Hanslope come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Hanslope usually purchase the land, 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 property lawyers 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 Hanslope or who has acted in the same development.
My husband and I are novice buyers - had an offer accepted, but the estate agent advised that the vendor will only proceed if we appoint their recommended conveyancers as they are insisting on an ‘expedited deal’. We would rather use a high street conveyancer with experience of conveyancing in Hanslope
We suspect that the seller is not behind this demand. Should the owner desire ‘a quick sale', turning down a serious buyer is likely to cause more damage than good. Try to communicate with the vendors directly and make the point that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you intend to instruct your own,trusted Hanslope conveyancing firm - not the ones that will provide their estate agent a commission or meet his conveyancing targets demanded by head office.