We are nearing an exchange on a house in Acrefair and my mum and dad have transferred the ten percent deposit to my conveyancing practitioner. I am now informed that as the deposit has not come from me my property lawyer needs to disclose this to my mortgage company. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the bank about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
The lawyer is legally required to check with mortgage company to make sure that they know that the balance of the purchase price is not from your own funds. The solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
My partner and I are close to exchanging contracts on the sale of our home in Acrefair and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any local conveyancer would know this is not the case. It does beg the question why the buyers used a web based conveyancing firm rather than a conveyancing solicitor in Acrefair. Having lived in Acrefair for 5 years we know of no issue. Do we get in touch with our local Authority to obtain confirmation that there is no issue.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I am purchasing a new build house in Acrefair with a mortgage from Norwich and Peterborough Building Society. The builders would not move on the amount so I negotiated 6k of additionals instead. The sale representative told me not disclose to my lawyer about the side-deal as it could jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a simple, no chain conveyancing. Acrefair is where the house is located. Can you shed any light on this issue?
Flying freeholds in Acrefair are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Acrefair you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Acrefair may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
In sourcing the internet for the phrase conveyancing in Acrefair it brings up numerous property lawyerslocally. With so much choice what is the best way to find the right conveyancer for the sale of my house?
The preferential way of seeking the right conveyancer is via trusted testimonial, so ask friends and those you trust who have bought a property in Acrefair or a reputable estate agent or financial adviser. Fees for conveyancing in Acrefair differ, so it's advisable to secure at least four estimates from varying types of law firms. Dont forget to clarify that the costs are guaranteed not to escalate.
Why can't I complete our conveyancing in Acrefair on Good Friday?
This is due to the fact that on completion the money will pass between the banks of the purchaser and seller's solicitor and at present this can only happen on a working day. It is not possible to complete on a saturday or sunday either.