My husband and I are nearing an exchange on a flat in Cholsey and my parents have transferred the 10% deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my property lawyer 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 informed the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your solicitor is duty bound to check with the bank to make sure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Do lawyers ask for money up-front for conveyancing in Cholsey?
Where you are retaining lawyers for conveyancing in Cholsey your solicitor will request that you put them with monies to cover the search fees. Normally this is requested to cover the fees of the conveyancing searches. When the deposit is payable against the total price then this should be required shortly in advance of exchange of contracts. Any further balance that is due will be payable a couple of days prior to the day of completion.
Forgive me if this question is silly but I am unexperienced as FTB of a garden flat in Cholsey. Do I pick up the keys to the premises on completion from my conveyancer? If so, I will appoint a High Street conveyancing solicitor in Cholsey?
On the day of completion you do not need to attend the conveyancers office in Cholsey. Conveyancing lawyers for you will arrange to send the completion advance to the seller's conveyancers, and once they have received this, you should be called to collect the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
I am buying a property in Cholsey. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Leeds Building Society be concerned?
Given that you are obtaining a mortgage with Leeds Building Society your lawyer must follow the conveyancing instructions contained in Part 2 of UK Finance Lenders’ Handbook for Leeds Building Society. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and lawyers are required to report to Leeds Building Society where a lease fails to comply with these provisions. The specifications relate to the installation of panels on properties countrywide and is not restricted to Cholsey.
Bank of Ireland have agreed my mortgage in principle, my bid on a flat in Cholsey has been agreed to, what are the next steps?
Your property agent will want to be informed of your solicitor's details (be sure the conveyancing practitioners are on the lender’s approved list). Call up Bank of Ireland or the financial adviser and finalise any appropriate forms. Bank of Ireland will sellect a valuer who will get in contact with the selling agent or seller to arrange a slot for the valuation to take place. Once conducted (assuming no problems) it takes approximately ten days to receive the mortgage offer. Bank of Ireland will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Cholsey.
Will commercial conveyancing searches reveal planned roadworks that could affect a commercial estate in Cholsey?
Its becoming the norm that commercial conveyancing solicitors in Cholsey will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Cholsey. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Cholsey.
For each commercial conveyancing transaction in Cholsey it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Cholsey commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Cholsey.
I am looking for a flat up to £305k and found one round the corner in Cholsey I like with a park and transport links nearby, however it's only got 52 remaining years left on the lease. There is not much else in Cholsey for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
I'm remortgaging my current property to a buy to let mortgage with Santander and I will use the ballance of the raised equity towards a second house. The neighborhood we are interested in is Cholsey. Will your solicitors be able to act for both sets of banks and link together the conveyances?
Do use our search tool on this page to ensure that the lawyers are approved by both mortgage companies. Having checked that they are the solicitor should be able to tie up the two transactions but you should talk with you conveyancer and specify your desired outcome and needs.