My partner and I are nearing an exchange on a flat in Alsager and my parents have sent the exchange deposit to my solicitor. I am now informed that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my lender. Apparently, 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 disclosed to the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The solicitor is legally required to check with lender to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Do lawyers ask for money up-front for my conveyancing in Alsager?
If you are buying a property in Alsager your lawyer will ask you put them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. If any down payment is as part of the total price then this should be asked for immediately in advance of contracts are exchanged. The final balance that is needed should be transferred shortly before completion.
I'm in the process of looking at apartments in Alsager and I am about to put in an offer. Is it premature to have a solicitor in place? I am planning to take a mortgage with Virgin Money.
It would be sensible to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. As you are seeking a mortgage with Virgin Money, ask your prospective lawyers if they are on the Virgin Money conveyancing panel otherwise they can't do the mortgage legal work.
Having digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Alsager solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Alsager surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
After what feels like an age I have had an offer on an apartment in Alsager agreed to, the sellers do however have a connected purchase. The owners have put an offer on somewhere, but it’s not yet tied up, and are looking at other flats booked. I have instructed a nearby conveyancing solicitor in Alsager. What should be my next step? At what point do I apply for the mortgage with Clydesdale?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is in the region of £1k, then survey, Alsager conveyancing search fees, etc). First, you should ensure that your property lawyer is on the Clydesdale conveyancing panel. Regarding the subsequent steps this very much depends on the circumstances of your transaction, desire for the property and on the state of the market. In a buoyant market some home buyers would apply for a home loan with Clydesdale and pay for the valuation and only if it was satisfactory would they pay their conveyancer to proceed with the conveyancing in Alsager.
I used Wolstenholmes a few years past for my conveyancing in Alsager. I now require my file but the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Alsager of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
The estate agent has sent us the confirmation of our purchase of a new build flat in Alsager. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Alsager
-
Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are architect prepared.
Do I need to be suspicious by estate agents that I am dealing with are suggesting a nationwide conveyancing firm as opposed to a local Alsager conveyancing company?
As with lots of service providers, often input from connections can be worth their weight in gold. Yet there are numerous people with a keen interest in a conveyancing matter; estate agents, financial adviser and mortgage companies may recommend conveyancers to instruct. Sometimes these lawyers might be known to one of the organisations as one of the best in their field, but sometimes there may be a financial incentive behind the recommendation. You are free to appoint your own conveyancer. Don't forget that some banks have an approved list of law firms you must use for the mortgage aspect of your transaction.