My partner and I are getting closer to an exchange on a house in Fawley and my mum and dad have sent the exchange deposit to my conveyancing practitioner. I am now told that as the deposit has not come from me my solicitor needs to make a notification to my mortgage company. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the lender regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?
Your solicitor is duty bound 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 notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Are the Fawley conveyancing solicitors identified as being on the UBS conveyancing panel, together with their details provided by UBS?
Fawley conveyancing firms themselves provide us confirmation that they are on the UBS conveyancing panel as opposed to being supplied with a list from UBS directly.
I own a terraced Victorian property in Fawley. Conveyancing lawyer represented me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Fawley and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with your conveyancing lawyer who conducted the purchase.
About to purchase a new build apartment in Fawley. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Fawley
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan.
My company is hoping to lease a unit on a shopping parade. Can you recommend conveyancers offering no-sale-no fees for commercial conveyancing in Fawley for less than 2k?
We can recommend firms who have well rounded knowledge of commercial conveyancing in Fawley, including the sale and purchase of businesses as well as simply premises. If you are hoping to buy or dispose of a shop, pub, restaurant, office, retail unit or a whole business we can put you in touch with the right solicitor. As for the charges these will vary based on the structure and complexity of the proposed transaction. Please provide us with your contact information or call us so that we can supply you with a detailed commercial conveyancing calculation.
When it comes to leasehold conveyancing in Fawley what are the most frequent lease defects?
There is nothing unique about leasehold conveyancing in Fawley. Most leases are drafted differently and legal mistakes in the legal wording can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
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Insurance obligations Maintenance charge proportions which don’t add up to the correct percentage
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to pull out.
Leasehold Conveyancing in Fawley - Examples of Questions you should ask Prior to buying
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The best form of lease arrangement is a share of the freehold. In this situation the lessees have control and notwithstanding that a managing agent is usually employed where it is larger than a house conversion, the managing agent retained by the leaseholders. It would be wise to discover if there are any onerous prohibitions in the lease. For instance it is very common in Fawley leases that pets are not permitted in certain buildings in Fawley. If you love the flatin Fawley but your cat can’t make the move with you then you will be presented with a difficult compromise. Who is in charge of the block?