My husband and I are only a couple days away from an exchange on a house in Highworth and my mum and dad have sent the 10% deposit to my lawyer. I am now informed that as the deposit has been sent from someone other than me my conveyancer needs to make a notification 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 not just from me. I disclosed to the bank about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
The conveyancer is duty bound to check with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
I purchased a freehold property in Highworth but still pay rent, why is this and what is this?
It is rare for properties in Highworth and has limited impact for conveyancing in Highworth but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
I have justdiscovered that Wolstenholmes have closed. They carried out my conveyancing in Highworth for a purchase of a freehold house 12 months ago. How can I check that the property is not still registered in the name of the previous owner?
The easiest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Highworth conveyancing specialists.
How does conveyancing in Highworth differ for new build properties?
Most buyers of new build property in Highworth 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 new home sellers in Highworth 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 conveyancers 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 Highworth or who has acted in the same development.
My company is wishing to lease a unit on the high street. Can you recommend conveyancers offering competitive costs for non-domestic conveyancing in Highworth for less than 1500k?
We are happy to recommend firms who have specialist knowledge of commercial conveyancing in Highworth, including the disposal and acquisition of businesses as well as simply premises. If you are looking to acquire or sell a shop, pub, restaurant, office, retail unit or a whole business we will find you the right lawyer. As for the costs these will vary based on the structure and terms of the proposed transaction. Please provide us with your details or call us so that we can supply you with comprehensive commercial conveyancing calculation.
My brother has urged me to use his conveyancing solicitors in Highworth. Do I follow his advice?
No doubt it’s preferable to choose a conveyancing practitioner is to get guidance from friends or relatives who have actually used the firm that you are are thinking of instructing.