We are only a couple days away from an exchange on a house in Alresford and my mum and dad have sent the 10% deposit to my conveyancer. I am now told that as the deposit has been sent from someone other than me my solicitor needs to disclose this to my mortgage company. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
Your lawyer is duty bound to check with the bank to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Finally the sale completed on my house in Alresford last May but my buyer keeps calling me to moan that her lawyer is waiting to hear from mine. What are the post completion sale legalities following completion?
Following your disposal your solicitor should send the transfer deeds and all additional paperwork to the buyer’s lawyers. Where appropriate, your solicitor must also send confirmation that the home loan has been paid off to the buyers solicitors. There is unlikely to be post completion formalities peculiar conveyancing in Alresford.
What does a local search tell me regarding the house we're purchasing in Alresford?
Alresford conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company such as Onsearch The local search plays a central role in many a Alresford conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search will supply information on, amongst other things, details on planning applications applicable to the property (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 13 subject headings.
The estate agent has sent us the confirmation of our purchase of a new build flat in Alresford. Conveyancing is daunting 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 conveyancing.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Alresford
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please supply a car parking plan. 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.
Due to the encouragement of my in-laws I had a survey completed on a property in Alresford before retaining solicitors. I have been advised that there is a flying freehold element to the property. The surveyor advised that some mortgage companies tend not give a mortgage on this type of home.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. If you e-mail us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Alresford. Conveyancing may be slightly more expensive based on your lender's requirements.