I am getting closer to an exchange on a house in Colyton and my parents have sent the ten percent deposit to my conveyancer. I am now advised that as the deposit has not come from me my conveyancing practitioner needs to disclose this to my bank. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
The solicitor is duty bound to clarify with lender to ensure 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 agree, failing which, your lawyer must cease to continue acting.
Can your site be used to locate a Conveyancing solicitor in Colyton even where I’m not purchasing or selling a house, for instance where I want to acquire an office in Colyton with a loan from Coventry Building Society?
Our comparison service is mainly there to select residential conveyancing solicitors in Colyton but we have recorded at the end of this page some Colyton commercial conveyancing firms. You should make contact with the firm directly to check if they can also act for Coventry Building Society
If you had a top tip for selecting a conveyancing solicitor in Colyton what would it be?
It would be unwise to be tempted by the cheapest Colyton conveyancing fees. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
I have today made my last payment due on my mortgage with Yorkshire BS. I assume I don't need a Colyton solicitor on the Yorkshire BS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
It is not clear whether my mortgage offer requires a lease extension. I have telephoned my Colyton building society branch on numerous occasions and was told they are content with the situation and they would lend. My Colyton conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancing practitioner is on the lender panel, they must comply with the CML Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 left on the lease.
Various internet forums that I have visited warn that are the number one cause of delay in Colyton house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances during the legal transfer of property. Local searches are not likely to feature in any slowing down conveyancing in Colyton.
I need to instruct a conveyancing lawyer in Colyton for my home move. Is there any facility to see a firm’s record with the legal regulator?
You may find presented Solicitor Regulator Association (SRA) determinations arising from inquisitions started on or after 1 January 2008. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The regulator could recorded call for training requirements.
Do online conveyancing organisations do everything a local Colyton solicitor does or do I still need to retain a solicitor for the final stages for my conveyancing in Colyton?
If you use an online conveyancer they should undertake all the tasks your Colyton conveyancer would cover.