We are getting closer to an exchange on a property in Hinckley and my parents 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 disclose this 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 advised the lender concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your conveyancer is legally required to clarify with the bank to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front when it comes to conveyancing in Hinckley?
Where you are retaining lawyers for conveyancing in Hinckley your lawyer will request that you put them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the total price then this should be asked for immediately before exchange of contracts. The final balance that is needed should be transferred shortly before completion.
I am planning on selling our property in Hinckley and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A high street Hinckley conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers used a factory type conveyancing firm as opposed to a conveyancing solicitor in Hinckley. We have lived in Hinckley for six years we know of no issue. Should we get in touch with our local Authority to obtain confirmation that there is no issue.
It sounds as though you may have a conveyancing firm currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
How does conveyancing in Hinckley differ for newly converted properties?
Most buyers of new build or newly converted property in Hinckley contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Hinckley tend to purchase the site, 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 Hinckley or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Hinckley is the location of the property. Is there any advice you can give?
Flying freeholds in Hinckley are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hinckley you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hinckley 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 residence.
How can the Landlord & Tenant Act 1954 impact my business property in Hinckley and how can your lawyers assist?
The particular law that you refer to affords security of tenure to business tenants, giving them the right to apply to court for a new lease and continue in occupation at the end of the lease term. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act for protection and handle your commercial conveyancing in Hinckley