We are approaching an exchange on a flat in Biddenham and my parents have sent the 10% deposit to my solicitor. I am now advised that as the deposit has not arrived from me my conveyancing practitioner needs to disclose this to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I informed the bank regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
The conveyancer is legally required to check with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your lender if you agree, failing which, your lawyer must cease to continue acting.
We are purchasing a property in Biddenham. I might seem paranoid but how we can trust a lawyer? On completion day we will need to send funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it correct that all Biddenham CQS (Conveyancing Quality Scheme) solicitors are on the Virgin Money conveyancing list of approved solicitors?
A selection of lenders now utilise the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Biddenham building society branch on numerous occasions and was advised it wasn't a problem and they will lend. My Biddenham conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend based on their published requirements. I simply don't know who is right.
The solicitor must comply with the CML Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I used Stirling Law a few years ago for my conveyancing in Biddenham. Now, I need my files however cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate 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 Biddenham of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I opted to have a survey completed on a house in Biddenham before appointing conveyancers. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some lenders tend not give a loan on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different requirements from Nationwide. If you call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Biddenham. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been recommended by three or four local selling agents in Biddenham to find a property lawyer using your seach tool. What’s the financial inducement for Estate Agents to offer your site ahead of alternative conveyancing organisations?
We don’t give any financial incentive for pointing buyers and sellers in our direction. We found it would be just too difficult to pay a commission because a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
I need to retain a conveyancing solicitor for freehold conveyancing in Biddenham. I've stumble upon a web site which appears to be the perfect answer If there is a chance to get all this stuff completed via phone that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?