My husband and I are getting closer to an exchange on a flat in South Petherton and my mum and dad have transferred the 10% deposit to my conveyancing practitioner. I am now advised that as the deposit has been sent from someone other than me my lawyer needs to disclose this to my bank. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the lender regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?

Your conveyancer is duty bound to clarify with mortgage company to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your lender if you agree, failing which, your lawyer must cease to continue acting.

This question may be naive but I am unexperienced as FTB of a garden flat in South Petherton. Do I collect the keys to the house on completion from my lawyer? If this is the case, I will appoint a local conveyancing solicitor in South Petherton?

On the day of completion you will not be required to attend the conveyancers office in South Petherton. Your solicitors will transfer the completion advance to the seller's solicitors, and shortly after the monies have arrived, you should be invited to pick up the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.

My wife and I are in the process of viewing houses in South Petherton and I am now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a home loan with Coventry BS.

You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are getting a mortgage with Coventry BS, make sure you remember to check that your lawyer is on the Coventry BS conveyancing panel.

Planning on purchasing a apartment in South Petherton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the South Petherton property lawyer is on the Skipton conveyancing panel.

Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in South Petherton I like with a park and transport links nearby, however it only has 49 years on the lease. There is not much else in South Petherton for this price, so just wondered if I would be making a mistake buying a lease with such few years left?

If you require a home loan the shortness of the lease may be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.

What makes your site different to other web based conveyancing solicitors when it comes to conveyancing in South Petherton?

At this site secure a fixed fee costs illustration from a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in South Petherton. Unlike many estate agents and brokerage sites we do not charge firms a commission if you choose them for your property ownership legalities in South Petherton

I've found a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in South Petherton. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in South Petherton ?

The majority of houses in South Petherton are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. it is apparent that you are buying in South Petherton so you should seriously consider looking for a South Petherton conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer should report to you on the legal implications.

Leasehold Conveyancing in South Petherton - Sample of Queries before buying

For many South Petherton leaseholds the outlay for major works tend not to be included within service charges, albeit that a few managing agents in South Petherton obliged leaseholders to pay into a sinking fund and this is used to offset against larger repairs or maintenance. Who is in charge of the building? Many South Petherton leasehold properties will have a service charge for the upkeep of the building levied on behalf of the management company. Where you acquire the apartment you will have to meet this liability, usually quarterly throughout the year. This could vary from a few hundred pounds to thousands of pounds for blocks with lifts and large common grounds. There will also be a rentcharge for you to pay annual, ordinarily this is not a exorbitant sum, say about £25-£75 but you should to check as on occasion it can be surprisingly expensive.