We are approaching an exchange on a flat in Irchester and my mum and dad have transferred the ten percent deposit to my property lawyer. I am now informed that as the deposit has not come from me my property lawyer needs to disclose this to my bank. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I disclosed to the mortgage company about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
The property lawyer is duty bound to check with the bank to make sure that they know that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
I am thinking of remortgaging my home in Irchester, does my lawyer need to be on the Bank of Ireland Solicitor panel?
There is nothing to stop you using your solicitor, but Bank of Ireland will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Should commercial conveyancing searches reveal impending roadworks that could impact a commercial premises in Irchester?
Its becoming the norm that commercial conveyancing solicitors in Irchester will order a SiteSolutions Highways report as it reduces the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Irchester. The report sets out definitive information 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 Irchester.
For every commercial conveyancing transaction in Irchester it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could cause delays to Irchester commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Irchester.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Irchester is where the house is located. Is there any advice you can give?
Flying freeholds in Irchester are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Irchester you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Irchester may ascertain 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 premises.
What does commercial conveyancing in Irchester cover?
Irchester conveyancing for business premises incorporates a broad array of services, provided by regulated solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer 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.
The solicitors conducting our conveyancing in Irchester has sent papers to review that reveal that the property is unregistered with epitome documents. How can it be that the property not registred at HM Land Regsitry?
It is rare for premises in Irchester not to be registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Plenty of Irchester conveyancing practitioners should be able to handle such matters but where uncertainty prevails the usual proposition nowadays is for the vendor’s solicitor to deal with the registration formalities first and then sell - this will predictably cause a significant delay.