We are nearing an exchange on a flat in Lees and my mum and dad have sent the ten percent deposit to my lawyer. I am now advised that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your conveyancing practitioner is legally required to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
As a first time buyer what is the most important piece of guidance you can impart regarding purchase conveyancing in Lees?
You may not hear this from too many lawyers but conveyancing in Lees and elsewhere in England and Wales is an adversarial experience. In other words, when it comes to conveyancing there is plenty of opportunity for friction between you and others involved in the transaction. For instance, the seller, estate agent and sometimes your mortgage company. Choosing a solicitor for your conveyancing in Lees an important selection as your conveyancer is your adviser, and is the SOLE party in the transaction whose responsibility is to protect your legal interests and to protect you.
We are witnessing a definite increase in the "blame" culture- someone must be at fault for the process being so protracted. We recommend that you should always trust your lawyer above all other parties in the home moving process.
About to purchase a new build flat in Lees. Conveyancing is a frightening process 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 Lees
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. 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. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please confirm the Lease plans are surveyor prepared.
I'm converting the mortgage on my current property to a BTL mortgage with TSB and intend to use the remaining equity as a deposit on a second house. The neighborhood we are talking about is Lees. Will your solicitors be able to act for both sets of mortgage companies and tie in the conveyances?
Make use of our search tool on this page to check that the lawyers are approved by both banks. On the basis that they are your conveyancer will be able to simultaneously deal with the two deals but you should talk with you lawyer and specify your expectations and needs.
I need to find a conveyancing solicitor for residential conveyancing in Lees. I have land on a web site which appears to be the perfect answer If it is possible to get all formalities completed via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Having checked my lease I have discovered that there are only Seventy years unexpired on my flat in Lees. I need to extend my lease but my landlord is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the landlord. On the whole a specialist may be helpful to carry out a search and to produce a report to be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Lees.
Lees Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing
How much is the ground rent and service charge? Is the freehold owned collectively by the tenants?