My partner and I are getting closer to an exchange on a flat in Rottingdean and my mum and dad have transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my conveyancing practitioner needs to make a notification to my lender. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I advised the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
Your solicitor is duty bound to clarify with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
It is a dozen years since I purchased my property in Rottingdean. Conveyancing solicitors have just been instructed on the sale but I am unable to locate the deeds. Is this a problem?
You need not be too concerned. First the deeds may be retained by your mortgage company or they could be in the possession of the solicitor who handled your purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors acquiring current official copies of the land registers. Most conveyancing in Rottingdean relates to registered property but in the rare situation where your home is unregistered it is more problematic but is not insurmountable.
Do I need to have a meeting at the offices of the solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Rottingdean so that I can pop in to their offices if necessary.
Nowadays approved lawyers for banks conduct their work through Royal Mail, internet or over the phone. This enables them to carry out the conveyancing transaction regardless of where you live in the country. However you can check if you have the option of visiting the offices of your conveyancing lawyer if needed.
What will a local search tell me concerning the property we're purchasing in Rottingdean?
Rottingdean conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations such as PSG The local search is essential in every Rottingdean conveyancing purchase; that is if you don’t want any nasty once you have moved into your new home. The search will reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
Having had my offer accepted I require leasehold conveyancing in Rottingdean. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Rottingdean - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Rottingdean Leasehold Conveyancing - Examples of Questions you should ask before Purchasing
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It would be wise to discover as much as possible about the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to practical issues like the upkeep of the communal areas. Ask other people if they are happy with their management. Finally, investigate as to the dates that the service fees are due to the relevant party and specifically how they are spending that money. Many Rottingdean leasehold apartments will be liable to pay a service charge for maintenance of the building invoiced on behalf of the freeholder. If you purchase the property you will have to meet this contribution, normally quarterly throughout the year. This could differ from several hundred pounds to thousands of pounds for bigger purpose-built blocks. In all probability there will be a rentcharge to be met yearly, this is usually not a significant figure, say around £25-£75 but you should to check it because on occasion it can be many hundreds of pounds. Are there any major works anticipated that could add a premium to the service charges?
I have been advised by many estate agents to expect 6-8 weeks for Rottingdean conveyancing to complete.This was 3 ago. The draft contract was only received from the vendors conveyancer a few days ago so now does it countdown?
One should take with a grain of salt any assurance as to fast completion times. Rather you should enquire about the average time it takes for them to complete Rottingdean conveyancing transactions and whether they are happy to work towards your proposed completion date for your conveyancing in Rottingdean