I am nearing an exchange on a flat in Overton and my mum and dad have transferred the ten percent deposit to my solicitor. I am now advised that as the deposit has not arrived from me my solicitor needs to disclose this to my mortgage company. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the bank concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
Your conveyancer is duty bound to clarify with lender to make sure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I am close to exchanging contracts on the sale of our home in Overton and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any local lawyer would know this is not the case. It does beg the question why the buyers are using a web based conveyancing firm rather than a conveyancing solicitor in Overton. Having lived in Overton for 4 years we know that this is a non issue. Do we contact our local Authority to seek clarification that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. What do they say? You must enquire of 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 life insurance to cover that same illness)
I was recommended by numerous estate agents in Overton to locate a property lawyer using your seach tool. Is there a financial incentive for Estate Agents to promote your lawyers over and above another?
We refuse to offer any financial incentive for sending work our way. We found it would be just too difficult a fee as home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
We're novice buyers - had an offer accepted, yet the property agent advised that the vendor will only issue a contract if we instruct their chosen conveyancers as they want an ‘expedited deal’. My instinct tells me that we should use a high street conveyancer accustomed to conveyancing in Overton
We suspect that the owner is not behind this ultimatum. Should the owner desire ‘a quick sale', turning down a genuine purchaser is counter productive. Avoid the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are ready to go, with finances in place © you are unencumbered (d) you intend to proceed fast (e)but you intend to use your preferred Overton conveyancing lawyers - as opposed tothose that will earn their negotiator at the agency a referral fee or hit his conveyancing thresholds pre-set by HQ.
What are the frequently found problems that you encounter in leases for Overton properties?
There is nothing unique about leasehold conveyancing in Overton. Most leases are drafted differently and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
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A duty to insure the building
You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Skipton Building Society, and Britannia all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.
Overton Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing
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Does the lease have onerous restrictions? Be sure to enquire if the the lease contains any adverse restrictions in the lease. For example it is reasonably common in Overton leases that pets are not allowed in certain buildings in Overton. If you like the flatin Overton yet your cat can’t make the move with you then you will be presented with a hard decision. The majority of Overton leasehold flats will be liable to pay a service charge for the upkeep of the building levied by the freeholder. Should you purchase the property you will have to meet this liability, usually quarterly accross the year. This can vary from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent for you to pay yearly, this is usually not a significant amount, say about £25-£75 but you should to check as occasionally it can be surprisingly expensive.
Can you set examples of specific advantages to selecting a local conveyancing practitioner in Overton
Home movers in Overton prefer a nearby high street solicitor so that they can attend the firm’s offices if they have concerns, and to sign documents without using the Royal Mail.
One could allege that there exists a marginal edge when selecting a solicitor local to a house you are hoping to purchase, due to the in-depth knowledge of the area and possible local issues - yet this is debatable. Many conveyancers are now via the internet and may be anywhere in the world.