My husband and I are nearing an exchange on a property in Yaxley and my parents have sent the exchange deposit to my lawyer. I am now advised that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my bank. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
Your conveyancing practitioner is duty bound to clarify with lender to ensure that they understand 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.
Are there restrictive covenants that are commonly identified during conveyancing in Yaxley?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Yaxley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does the Landlord & Tenant Act 1954 impact my business offices in Yaxley and how can you help?
The 1954 Act gives security of tenure to commercial tenants, granting the legal entitlement to apply to court for a renewal lease and continue in occupation at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and handle your commercial conveyancing in Yaxley
We're first time buyers - agreed a price, but the property agent advised that the seller will only move forward if we appoint their recommended solicitors as they are insisting on an ‘expedited deal’. We would rather use a local solicitor with experience of conveyancing in Yaxley
We suspect that the seller is not behind this ultimatum. If they require ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Avoid the agents and go straight to the sellers and make the point that (a)you are genuine buyers (b)you are ready to go, with mortgage lined up © you are chain free (d) you wish to move quickly (e)but you intend to appoint your own,trusted Yaxley conveyancing lawyers - rather thanthe ones that will give their estate agent a referral fee or hit his conveyancing figures demanded by corporate headquarters.
Do you have any advice for leasehold conveyancing in Yaxley with the aim of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Yaxley can be avoided where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors. If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unresolved. A minority of Yaxley leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Yaxley leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord approving such alterations. If you fail to have the consents to hand you should not communicate with the landlord without contacting your solicitor before hand. If you are supposed to have a share in the freehold, you should ensure that you have the original share document. Obtaining a new share certificate is often a time consuming formality and slows down many a Yaxley conveyancing transaction. Where a new share certificate is necessary, you should approach the company officers or managing agents (if relevant) for this as soon as possible.
Leasehold Conveyancing in Yaxley - A selection of Queries Prior to buying
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The majority of Yaxley leasehold properties will be liable to pay a service charge for maintenance of the block levied on behalf of the management company. If you acquire the flat you will have to meet this charge, usually in instalments during the year. This may be anything from a couple of hundred pounds to thousands of pounds for large purpose-built buildings. In all likelihood there will be a ground rent for you to pay annual, normally this is not a significant figure, say about £25-£75 but you need to check as occasionally it can be prohibitively expensive. What prohibitions are contained in the Yaxley Lease? Best to be warned whether window replacement or some other major work is anticipated to be shared between the tenants and could well dramatically increase the the service charges or necessitate a specific payment.
What type of property do your Yaxley conveyancing estimates apply to?
Our conveyancing quotes are only appropriate to standard domestic homes in England & Wales. If you have any different requirements for example industrial or agricultural land or commercial conveyancing in Yaxley do telephone us to address your requirements .