My wife and I are approaching an exchange on a flat in Birchington and my mum and dad have sent the ten percent deposit to my solicitor. I am now informed that as the deposit has not come from me my conveyancer needs to disclose this to my mortgage company. 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 informed the mortgage company about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancing practitioner is legally required to check with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
When does exchange of contracts occur in domestic conveyancing in Birchington and do I need to attend the solicitors office?
If you are near to one of the conveyancing solicitors in Birchington you are invited in to sign contracts. That being said, the lender approved solicitors we recommend offer countrywide coverage for conveyancing and provide just as comprehensive and professional a job for you when dealing with you digitally. The signing of the purchase agreement is not the point of no return. Signing on the dotted line is necessary for the conveyancer to officially exchange at the appropriate time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Birchington)to be in the office at the appropriate time.
What happens if my solicitor is removed from the HSBC Conveyancing panel ahead of completing my conveyancing in Birchington?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Is there a list of Lloyds panel conveyancers in Birchington on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association sites. A small selection of mortgage companies make their panel listings visible on the web. Where you are looking for a Birchington conveyancer on the Lloyds please make the most of our facility.
We have agreed to purchase a house in Birchington. An unusual aspect is that the roof has a solar panel. Nottingham have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Nottingham your lawyer must follow the formal instructions outlined in Section two of UK Finance Lenders’ Handbook for Nottingham. The CML Handbook includes minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Nottingham where a lease fails to comply with these requirements. The provisions relate to the installation of panels on properties nationwide and is not limited to Birchington.
I had an offer accepted on a house in Birchington on 11/10/2024, valuation was booked five days after, all came back fine. Property lawyer appointed, so all that was missing was my mortgage offer. Having made daily calls to Principality and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Principality conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
Am I right to be wary that estate agents that I am dealing with are suggesting a national conveyancing firm as opposed to a local Birchington conveyancing practice?
As is the case with many service providers, often input from relatives can be extremely useful or valuable. Yet there are lots of players in a conveyancing deal; estate agents, financial adviser and banks may recommend solicitors to appoint. Sometimes these lawyers might be known to one of the organisations as experts in their field, but sometimes there behind the scenes financial incentive behind the endorsement. You have the right to appoint your preferred conveyancer. You need to be aware that most banks have an approved list of conveyancers you are obliged to use for the lender aspect of your home move.
We are soon to acquiring a property in Birchington. Can the lawyer have our purchase price a secret from the likes of Rightmove. Is this possible and how?
HM Land Registry as a matter of law required to disclose price paid information on the official title for residential properties countrywide including homes in Birchington. The register of title is an open document, so HM Land Registry would be breaching their statutory obligations excluded certain homes such as the one in Birchington.
In essence you can ask HM Land Registry to hide the price paid entry but the answer would be a No.