My husband and I are nearing an exchange on a property in Covent Garden and my mum and dad have sent the ten percent deposit to my lawyer. 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 advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to 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?
The solicitor is legally required to check with lender to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Completed the sale of my flat in Covent Garden last August yet the purchaser is Skype messaging daily to say his solicitor is waiting to hear from mine. What should have happened now that I have sold?
Post completion of your house sale your lawyer should send the transfer deeds and all supplemental paperwork to the purchaser's solicitors. Depending on the transaction, your lawyer must also evidence that the home loan has been repaid to the buyers solicitors. There are no post completion procedures just for conveyancing in Covent Garden.
My husband and I have arranged the release of further monies on our mortgage from Kent Reliance as we want to conduct improvements to our house in Covent Garden. Do we need to select a high street Covent Garden solicitor on the Kent Reliance conveyancing panel to deal with the paperwork?
Kent Reliance don't usually appoint firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance panel.
I had a mortgage agreed in principle with Yorkshire BS. Covent Garden conveyancing practitioners were chosen. What is the average time that one could expect to receive a mortgage offer from Yorkshire BS?
There is no definitive answer here. Have Yorkshire BS completed the valuation? Have you informed Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have instructed a Covent Garden lawyer having made sure that they are on the TSB conveyancing panel. Does my lawyer arrange the survey of the property?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB 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. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Covent Garden postcode. As you are getting a mortgage with TSB, you could contact them to see if they have a list of approved surveyors in Covent Garden.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Covent Garden is the location of the property. What do you suggest?
Flying freeholds in Covent Garden are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Covent Garden you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Covent Garden may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
In sourcing the internet for the phrase cheap conveyancing in Covent Garden it shows results of numerous conveyancersin the area. How do I determine which is the suitable property lawyer for purchase transaction?
The preferential way of finding the right conveyancer is via personal testimonial, so enquire of colleagues and those you trust who have acquired a property in Covent Garden or a local estate agent or financial adviser. Fees for conveyancing in Covent Garden vary, so it's a good idea to secure a minimum of four estimates from varying types of law firms. Be sure to secure confirmation what costs in the quote includes.
My husband and I have AIP from Chelsea Building Society who have advised we could borrow up to £400k. When do we need to instruct a solicitor for conveyancing? Covent Garden is where we plan to move to.
It would be wise to instruct a lawyer now so that the solicitor can open the ledger so they can do their ID checks etc. As and when you wish them to commence work they will seek a payment on account usually approximately £200. That would generally be once you have the loan offer from the bank and survey report, however if you wish to expedite the process you can start sooner even though you may be risking some expense.