My partner and I are nearing an exchange on a house in Summertown and Botley and my parents have transferred the 10% deposit to my conveyancing practitioner. I am now informed that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my mortgage company. I am advised that, in also acting for the lender 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 mortgage, so is it really appropriate for this now to hold matters up?
Your conveyancing practitioner is legally required to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
It is a dozen years since I purchased my home in Summertown and Botley. Conveyancing solicitors have now been instructed on the sale but I am unable to locate my title deeds. Is this a major issue?
You need not be too concerned. Firstly there is a possibility that the deeds will be with your mortgage company or they may be in the possession of the lawyers who handled the purchase. Secondly in most cases the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. Nearly all conveyancing in Summertown and Botley relates to registered property but in the rare situation where your property is unregistered it is more tricky but is not insurmountable.
My bank has recommended a law firm on their panel based in Summertown and Botley but I would rather use a conveyancing lawyer in Summertown and Botley or nearer to where I live. Are you able to assist?
It is by no means the case that all Summertown and Botley conveyancing firms are on all banks conveyancing panel. Use the above find an approved solicitor tool to locate a Summertown and Botley conveyancing conveyancer on the on the mortgage company panel.
I just acquired a property at auction in Summertown and Botley. Conveyancing is necessary. What happens now?
Given that you have now for all intents and purposes signed on the dotted line you should appoint a conveyancing solicitor quickly as you are faced with a tight deadline in which to complete the transaction. An auction property should have a bespoke legal pack. This will include evidence of title and search results. Where you are dealing with leasehold property the auction papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to a leasehold property. You should pass this on to the conveyancer working for you at the earliest opportunity. Do make sure that that you have the requisite funding in place to complete on the on the contractual date .
We are due to move property in January. Does my conveyancing solicitor call the removal company on the day of completion. On a separate note, can you recommend a removal company in Summertown and Botley. Conveyancing firm was found prior to coming across your website.
On the afternoon of completion you can collect the house keys from your selling agent but this should only be done after the sellers solicitors advise the agent that they have the completion monies and the keys can be released. After that you will need to tell the removal men that they can start moving you in. As a matter of policy we do not recommend a specific removal organisation but can help you choose a conveyancing in Summertown and Botley or a solicitor with expertise in conveyancing in Summertown and Botley.
My fiancee and I are at the point of looking at apartments in Summertown and Botley and I am now considering a potential offer. Is it best to have my property lawyer on ‘stand by’? I intend to finance via a home loan with Barclays.
It would be advisable to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are taking out a mortgage with Barclays, ask your prospective lawyers if they are on the Barclays conveyancing panel otherwise they can't do the mortgage legal work.
The estate agent has sent us the confirmation of our purchase of a new build flat in Summertown and Botley. 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.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Summertown and Botley
-
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. 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. There must be mutual enforceability of lessee’s covenants.
I am looking for a leasehold apartment up to £195,000 and identified one round the corner in Summertown and Botley I like with open areas and transport links in the vicinity, the downside is that it only has 52 remaining years left on the lease. There is not much else in Summertown and Botley for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan that many years will likely be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.