My partner and I are nearing an exchange on a house in Christchurch and my mum and dad have sent the 10% deposit to my property lawyer. I am now advised that as the deposit has been received from someone other than me my property lawyer needs to make a notification to my mortgage company. 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 about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The 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 lender if you permit them to, failing which, your lawyer must cease to continue acting.
Just acquired a detached house in Christchurch , how long should it take for the Land Registry to deal with the formalities evidencing my ownership? My Christchurch conveyancing solicitor works at snail pace, so I want to be certain that my purchase is recorded.
As far as conveyancing in Christchurch registration is no faster or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timescales can adjust depending on who lodges the application, whether it is in order and if the Land registry communicate with any third parties. At present roughly 80% of such applications are fully dealt with in less than three weeks but some can be subject to protracted delays. Historically registration takes place after the buyer is living at the premises so an expedited registration is not usually primary concern but where there is a degree of urgency associated with the registration then you or your conveyancer could speak with the land registry and explain the circumstances.
I am buying my first flat in Christchurch benefiting from help to buy. The developers refused to move on the amount so I negotiated 6k of additionals instead. The sale representative suggested that I not disclose to my lawyer about this extras as it would adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What does commercial conveyancing in Christchurch cover?
Christchurch conveyancing for business premises incorporates a broad range of guidance, supplied by qualified solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
I am tempted by the attractive purchase price for a couple of flats in Christchurch both have approximately fifty years left on the leases. Will this present a problem?
There are plenty of short leases in Christchurch. The lease is a right to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field.
Christchurch Leasehold Conveyancing - A selection of Queries Prior to Purchasing
It is important to be aware whether window replacement or some other significant cost is due shortly to be shared between the leasehold owners and will materially impact the level of the maintenance charges or require a specific payment. Who takes charge for maintaining and repairing the building?
My a decade ago. He has been married, widowed and has recently remarried. He will be selling the property in a few weeks. I believe he will simply be requested to provide a copy of his marriage certificates to the lawyer but he is concerned it could delay the home sale. Is it worth updating the title details for the house?
You are not required to update the register providing you have the evidence needed to show how the name change occurred.
Any purchaser’s solicitor will check the title details and requisition evidence to establish the change of name for example marriage documentation.