My husband and I are approaching an exchange on a property in New Farnley and my parents have transferred the exchange deposit to my property lawyer. I am now informed that as the deposit has been received from someone other than me my conveyancing practitioner needs to disclose this to my bank. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I advised the bank about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your solicitor is obliged to clarify with the bank to make sure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
My Conveyancer in New Farnley is not listed on the Halifax Approved Panel. Is it possible for me to use my prefered solicitor even though they are excluded from the Halifax panel of approved conveyancing solicitors?
The limited options available to you here include:
- Complete the purchase with your existing New Farnley lawyers but Halifax will need to instruct a conveyancer on their panel. This will result in additional overall legal charges as well as cause frustration.
- Find a new lawyer to to deal with the conveyancing, remembering to check they are Convince your solicitor to do everything within their powers to join the Halifax conveyancing panel
My wife and I own a renovated Edwardian house in New Farnley. Conveyancing lawyer acted for me and The Royal Bank of Scotland. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in New Farnley and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with the conveyancing lawyer who conducted the conveyancing.
I decided to have a survey carried out on a house in New Farnley prior to instructing solicitors. I have been informed that there is a flying freehold overhang to the house. My surveyor has said that some banks will not grant a mortgage on such a premises.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. Should you wish to telephone us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in New Farnley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in New Farnley to see if the conveyancing costs will increase in light of this.
In what way does the Landlord & Tenant Act 1954 impact my commercial property in New Farnley and how can you help?
The 1954 Act provides a safeguard to business tenants, granting the a statutory right to make a request to court for a renewal tenancy and continue in occupation when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and help with commercial conveyancing in New Farnley
Should I instruct a New Farnley conveyancing lawyer based in the area that I am purchasing? I have an old university friend who can handle the conveyancing however his firm is located over three hundred miles away.
The benefit of a local New Farnley conveyancing firm is that you can visit the firm to execute paperwork, present your identification documents and apply pressure on them if necessary. They will also have local intelligence which is a plus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and in the main were content that should outweigh using an unknown New Farnley conveyancing lawyer just because they are based in the area.