My wife and I are only a couple days away from an exchange on a property in Esher and my mum and dad have sent the exchange deposit to my . I am now told that as the deposit has been received from someone other than me my needs to disclose this to my bank. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
The is obliged to check with mortgage company to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
As a FTB what is the most important number one tip you can impart regarding purchase conveyancing in Esher?
Not many law firms or advisers will tell you this but conveyancing in Esher and elsewhere in is often a confrontational experience. Put another way, when it comes to conveyancing there is lots of room for confrontation between you and other parties involved in the legal transfer of property. E.g., the seller, estate agent and even potentially a mortgage company. Selecting a law firm for your conveyancing in Esher is a critical decision as your conveyancer is your adviser, and is the ONLY party in the legal process whose role it is to look after your best interests and to keep you safe.
There is a distinct ongoing adversarial element to conveyancing- someone has to be at fault for the process taking so long. You must always trust your lawyer ahead of the other players in the home moving process.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The conveyancers who conducted the conveyancing in Esher years ago no longer exist. What do I do?
Gone are the days when you need to hold title original deeds to prove you are the registered proprietor of land or premises, as the Land Registry have everything they need in a digital format.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one close by in Esher I like with amenity areas and railway links in the vicinity, however it's only got 49 years unexpired on the lease. I can't really find anything else in Esher for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan the remaining unexpired lease term will be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
We're novice buyers - agreed a price, yet the selling agent informed us that the owners will only move forward if we use the agent's chosen conveyancers as they need an ‘expedited deal’. Our preferred option is to instruct a local conveyancer with experience of conveyancing in Esher
It is improbable the vendors are driving this. If they desire ‘a quick sale', alienating a genuine purchaser is counter productive. Contact the vendors directly and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you intend to appoint your preferred Esher conveyancing firm - not the ones that will earn the estate agent a introducer fee or hit his conveyancing targets set by senior management.