I am nearing an exchange on a house in Littleborough and my parents have sent the 10% deposit to my conveyancer. I am now informed that as the deposit has been received from someone other than me my conveyancer needs to disclose this to my mortgage company. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I disclosed to the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
The conveyancing practitioner is obliged to check with mortgage company to make sure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
My wife and I have recently appointed a conveyancing solicitor in Littleborough. I need to find out whether they are on the Bank of Scotland conveyancing panel. Can you assist?
The first thing you should do is call your solicitor and enquire if they can act for the lender. Alternatively you can call Bank of Scotland who may be able to assist.
I am buying a new build apartment in Littleborough. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Littleborough
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. 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. Please confirm the Lease plans are architect prepared.
I have been on the look out for a flat up to £235,500 and found one round the corner in Littleborough I like with a park and transport links nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Littleborough suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan that many years will be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
In surfing the world wide web for the term cheap conveyancing in Littleborough it shows results of many conveyancerslocally. How do I determine which is the right conveyancing solicitor for my move?
The best method of choosing the right conveyancer is through a trusted recommendation, so seek the guidance of friends and family who have purchased a property in Littleborough or a reputable estate agent or financial adviser. Fees for conveyancing in Littleborough vary, so it's advisable to secure a minimum of three costs illustrations from different conveyancers. Be sure to obtain confirmation that the charges are assured not to rise.
My husband and I plan to buy our first property in Littleborough. Conveyancing practitioner has been appointed. The mortgage adviser suggested that a survey is not needed as the property was only constructed 22 years ago.
The bare minimum you need a Home Buyer's Report. As the premises is over 10 years old the property will not come with a warranty, so you don't want to take a risk. Where a property of this age shows no signs of problems a Home Buyer's report may suffice. They will highlight any apparent issues and suggest additional investigation if relevant. Where there are any indications of problems obtain a full Building Survey from the beginning.