My partner and I are only a couple days away from an exchange on a property in Ventnor and my parents have sent the ten percent deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my conveyancing practitioner needs to make a notification to my lender. 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 informed the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?

Your lawyer is obliged to check with the bank to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.

I own a freehold premises in Ventnor yet invoiced for rent, why is this and what is this?

It is rare for properties in Ventnor and has limited impact for conveyancing in Ventnor but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.

Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.

What does a local search tell me about the house I am purchasing in Ventnor?

Ventnor conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations such as Searches UK The local search is essential in every Ventnor conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your property. The search will reveal 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.

What makes your site different to alternative web based conveyancing brokers when it comes to conveyancing in Ventnor?

At this site get a fixed fee costs illustration from a Solicitor or Licensed Conveyancer that appreciates the issues for your conveyancing in Ventnor. Unlike many estate agents and brokerage sites we do not charge firms a fee if you instruct them for your conveyancing in Ventnor

I’m about to sell my basement apartment in Ventnor. Conveyancing lawyers have not yet been instructed, however I have recently received a half-yearly service charge demand – Do I pay up?

The sensible thing to do is pay the invoice as normal as all ground rent and maintenance payments will be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

Leasehold Conveyancing in Ventnor - A selection of Queries before Purchasing

The prefered form of lease structure is a share of the freehold. In this arrangement the leaseholders enjoy control and notwithstanding that a managing agent is usually employed if it is larger than a house conversion, the managing agent is directed by the tenants. How is the lease structured? Does the lease have onerous restrictions?