My partner and I are nearing an exchange on a house in Durham and my parents have transferred the exchange deposit to my conveyancer. I am now told that as the deposit has been received from someone other than me my property lawyer needs to make a notification to my mortgage company. I am advised that, 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 bank regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
The solicitor is duty bound to clarify with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Are all Durham Conveyancing Quality Solicitors on the Principality conveyancing panel?
A selection of lenders now utilise CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
My wife and I are at the point of looking at apartments in Durham and I am now considering a potential offer. Is it too early to have a solicitor in place? I am planning to take a mortgage with Co-operative.
It would be advisable to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are getting a mortgage with Co-operative, make sure you remember to check that your lawyer is on the Co-operative conveyancing panel.
I can not fathom if 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 Durham bank branch on a couple of occasions and was told it does not impact the mortgage offer and they will lend. My Durham conveyancing solicitor - who is on the lender conveyancing panel- called and was told they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the mortgage company approved list, she or he must comply with the CML Handbook specifications for the 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 lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Should my solicitor be raising questions concerning flooding during the conveyancing in Durham.
Flooding is a growing risk for conveyancers conducting conveyancing in Durham. There are those who acquire a house in Durham, fully aware that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, but there are a number of searches that can be undertaken by the buyer or by their solicitors which can figure out the risks in Durham. The standard property information forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a usual inquiry of the vendor to discover whether the property has suffered from flooding. In the event that flooding has previously occurred and is not disclosed by the owner, then a purchaser could issue a legal claim for losses resulting from an inaccurate response. A purchaser’s lawyers will also commission an environmental report. This should disclose whether there is a recorded flood risk. If so, further inquiries will need to be carried out.
The deeds to my home are lost. The lawyers who handled the conveyancing in Durham 5 years ago are no longer around. What do I do?
You no longer need to have the physical original deeds to prove you own the land or property, as the Land Registry have everything they need in a digital format.
Is it possible to transfer to a new firm as I need to instruct one who is on the Platform Home Loans Ltd conveyancing list. I hired a family conveyancing solicitor in Durham round the corner but she is not approved by Platform Home Loans Ltd
We will our best to assist in finding you a conveyancing solicitor in Durham on the Platform Home Loans Ltd panel. Please note that the property lawyers that we on the directory do not pay us fee if you instruct them and are authorised and regulated by the SRA who regulate all conveyancing solicitors in Durham. In making use of search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Durham.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Durham. Conveyancing advisers have are about to be instructed. Will they explain the issues?
Most houses in Durham are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Durham so you should seriously consider shopping around for a Durham conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should advise you fully on all the issues.