We are only a couple days away from an exchange on a house in Astley and my mum and dad have transferred the 10% deposit to my conveyancer. I am now advised that as the deposit has been sent from someone other than me my conveyancer needs to disclose this to my lender. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your lawyer is obliged to check with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
We are planning to buy with Loughborough BS. We have called around locally yet am struggling to find a Astley conveyancing firm on the Loughborough BS approved list. Can you assist?
Please do take advantage of the find a conveyancing panel solicitor tool on this web page. Please choose the building society and type Astley or your preferred area and you will be presented with a number of lawyer offices in Astley or by proximity to you.
Are there restrictive covenants that are commonly identified as part of conveyancing in Astley?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Astley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Astley differ for newly converted properties?
Most buyers of new build residence in Astley come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Astley tend to 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 accustomed to new build conveyancing in Astley or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Astley is where the house is located. Is there any advice you can impart?
Flying freeholds in Astley are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Astley you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Astley 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 property.
If instructed can a conveyancer remove a person from the title of my property in Astley ?
Extracting or adding someone to the title of your property is relatively straightforward. You’ll need to appoint a conveyancing practitioner to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a property lawyer