I am getting closer to an exchange on a house in Bredon and my parents have transferred the 10% deposit to my solicitor. I am now advised that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my bank. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?
Your solicitor is duty bound to check with lender to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The lawyers who handled the conveyancing in Bredon 10 years ago no longer exist. Will I be able to sell the house?
As long as the title is registered the details of your ownership will be retained by HMLR under a Title Number. It is possible to execute a search at the Land Registry, locate your house and secure current copies of the Registered Entries for a small fee. If the property is Leasehold then the Land Registry will usually hold a certified duplicate of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
I'm buying my first flat in Bredon benefiting from help to buy. The builders refused to budge the amount so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not reveal to my lawyer about the side-deal as it will affect my loan with Aldermore. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I decided to have a survey done on a house in Bredon prior to appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies may refuse to issue a mortgage on a flying freehold home.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bredon. Conveyancing may be slightly more expensive based on your lender's requirements.
Taking into account that I will soon part with hundreds of thousands of pounds on a house in Bredon I would like to have a conversation with the lawyer concerning theconveyancing ahead of appointing the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the conveyancer due to be doing your conveyancing in Bredon.There is no ‘factory style conveyancing’ - every client is unique individual, not a matter number. The practices that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Bredon should be the figure that you are charged.
After what seems like an age I have had an offer on an maisonette in Bredon agreed to, the owner does however have an associated purchase. The owners have offered on a flat, but it’s not yet agreed to, and has viewings of other flats booked. I have instructed a local conveyancing solicitor in Bredon. What should be my next step? At what stage do I apply for the mortgage with Yorkshire BS?
It is understandable to have apprehensions where there is an associated chain as you are unlikely to want to incur costs too early (mortgage application is approx £1k, then valuation, Bredon conveyancing search charges, etc). First, you should ensure that your conveyancer is on the Yorkshire BS conveyancing panel. As to the subsequent steps this very much dictated by the specifics of your case, desire for this property and on the state of the market. During a buoyant market some home buyers will apply for the mortgage with Yorkshire BS and arrange for the survey and only if it comes back ok would they ask their lawyer to move forward with the conveyancing in Bredon.