My husband and I are approaching an exchange on a property in Sutton On Sea and my parents have transferred the ten percent deposit to my solicitor. I am now advised that as the deposit has been received from someone other than me my property lawyer needs to make a notification to my mortgage company. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
Your property lawyer is legally required to clarify with lender to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front for conveyancing in Sutton On Sea?
If you are buying a property in Sutton On Sea your lawyer will ask you place them with funds to cover the the cost of the conveyancing searches. Ordinarily this is called for to cover the fees of the conveyancing searches. When the deposit is as part of the total price then this will be needed shortly prior to contracts are exchanged. The final balance that is needed should be transferred a couple of days ahead of the day of completion.
I have been told that property searches are the main cause of obstruction in Sutton On Sea house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Searches are unlikely to feature in any delay in conveyancing in Sutton On Sea.
I am looking for a flat up to £195,000 and identified one close by in Sutton On Sea I like with open areas and station in the vicinity, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Sutton On Sea for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
I was recommended by numerous property agents in Sutton On Sea to get a quote from a conveyancer using your seach tool. Is there a financial advantage for Estate Agents to promote your site over and above another?
We don’t make any commission for sending work in our direction. We thought it would be too underhand to pay a commission because a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
As co-executor for the estate of my grandfather I am selling a house in Monmouth but reside in Sutton On Sea. My conveyancer (approximately 200 kilometers awayrequires that I execute a statutory declaration before the transaction finalising. Can you recommend a conveyancing practitioner in Sutton On Sea to attest and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are located in Sutton On Sea