We are approaching an exchange on a flat in Kingstanding and my parents have transferred the exchange deposit to my lawyer. I am now informed that as the deposit has not come from me my solicitor needs to disclose this to my lender. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
Your lawyer is legally required to clarify with the bank to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I need some fast conveyancing in Kingstanding as I am under an ultimatum to exchange contracts within 2 weeks. A mortgage is not required. Is it possible to escape the need for conveyancing searches to save fees and time?
If.Given you are not obtaining a home loan you have the choice not to do searches although no conveyancer would suggest that you don't. With plenty of history conveyancing in Kingstanding the following are instances of what can appear and adversely affect future saleability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
How does conveyancing in Kingstanding differ for new build properties?
Most buyers of new build property in Kingstanding approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Kingstanding usually purchase the real estate, 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 conveyancing solicitors 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 Kingstanding or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Kingstanding is where the house is located. Can you shed any light on this issue?
Flying freeholds in Kingstanding are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Kingstanding you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kingstanding may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
What does commercial conveyancing in Kingstanding cover?
Kingstanding conveyancing for business premises incorporates a broad range of services, offered by regulated solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.