I am nearing an exchange on a house in Falconwood and my parents have sent the exchange deposit to my lawyer. I am now informed that as the deposit has not come from me my conveyancing practitioner needs to make a notification to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I advised the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
The lawyer is legally required to check with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
My house in Falconwood is up for sale and I have a buyer. Does my conveyancer have to be required to be on the Leeds Building Society conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Leeds Building Society conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.
A relative advised me that in buying a property in Falconwood there may be various restrictions affecting the ability to carry out external alterations to a property. Is this right?
There are anumerous of properties in Falconwood which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Falconwood should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We are getting a further advance on our home loan from Lloyds as we want to carry out improvements to our property in Falconwood. Do we need to select a bricks and mortar Falconwood solicitor on the Lloyds conveyancing panel to handle the legals?
Lloyds do not ordinarily require firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Lloyds panel.
I recently had an offer agreed on a house in Falconwood. My mortgage broker suggested a conveyancing practitioner. I paid an upfront payment of £200. A few days later, the lawyer contacted me sheepishly admitting that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
How does conveyancing in Falconwood differ for new build properties?
Most buyers of new build property in Falconwood come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is constructed. This is because house builders in Falconwood typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Falconwood or who has acted in the same development.
What does commercial conveyancing in Falconwood cover?
Falconwood conveyancing for business premises covers a wide range of guidance, offered by regulated solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I have been sourcing a conveyancing solicitor in Falconwood for my remortgage. Is it possible to check a solicitor's record with the profession’s regulator?
Anyone may read presented Solicitor Regulator Association (SRA) determinations arising from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. For information Pre 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, call +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training reasons.