My husband and I are only a couple days away from an exchange on a flat in Fawley and my parents have transferred the exchange deposit to my property lawyer. I am now informed that as the deposit has not come from me my solicitor needs to make a notification to my lender. I am advised that, in also acting for the bank 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 necessary for him to raise this?
Your conveyancer is legally required to clarify with lender to make sure that they know 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 agree, failing which, your lawyer must cease to continue acting.
It is 10 years ago since I acquired my property in Fawley. Conveyancing solicitors have recently been retained on the sale but I can't track down the title documents. Will this jeopardise the sale?
Don’t worry too much. Firstly the deeds may be kept by the mortgage company or they could be in the possession of the solicitor who acted in your purchase. Secondly in all probability the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers acquiring up to date copy of the land registers. The vast majority of conveyancing in Fawley involves registered property but in the rare situation where your home is unregistered it is more problematic but is resolvable.
We're in Fawley, First timers purchasing with a mortgage (lender is Co-operative , and our solicitor is on the Co-operative conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Co-operative conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am purchasing a 3 bedroom semi in Fawley. We would like to convert the garage to an office at the property.Will the conveyancing process involve investigations to determine if these alterations are prohibited?
Your property lawyer should review the registered title as conveyancing in Fawley will occasionally identify restrictions in the title deeds which prohibit certain alterations or require the consent of another owner. Many works call for local authority planning permissions and approval in compliance with building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these things with a surveyor ahead of any purchase.
I am purchasing a property in Fawley. A rare aspect is that the roof has a solar panel. TSB have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is TSB your lawyer must check the conveyancing requirements set out in Part two of UK Finance Lenders’ Handbook for TSB. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to TSB where a lease does not satisfy these specifications. The specifications relate to the installation of panels on properties in England and Wales and is not restricted to Fawley.
After what feels like an age I have had an offer on a maisonette in Fawley accepted, the sellers do nevertheless have a tied purchase. The sellers have offered on a flat, but it’s not yet agreed to, and have viewings of other apartments in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Fawley. What do I do now? When do I get the mortgage application with TSB going?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is in the region of £1k, then survey, Fawley conveyancing search fees, etc). First, you must ensure that your solicitor is on the TSB approved list. As to the next phase this very much depends on the specifics of your transaction, desire for this property and on the state of the market. In a buoyant market many purchasers would apply for a home loan with TSB and arrange for the valuation and only if it was satisfactory would they ask their property lawyer to proceed with the conveyancing in Fawley.
I need to find a conveyancing solicitor for some conveyancing in Fawley. I have chance upon a web site which looks to be the ideal answer If there is a chance to get all the legals completed via email that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
We are in the middle of purchasing a property in Fawley. Conveyancing lawyer has called to say the property is "Leasehold". Should this make a difference on our lender’s valuation?
Fawley conveyancing does not in most situations involve leasehold houses. The crucial factor here is the unexpired lease term and the ground rent. If there are hundred of years years remaining with a peppercorn rent, it's essentially freehold, so it’s unlikely to impact the marketability significantly.
On the flip side, if it's, say, fifty five years it will have a significant effect on the value, and most likely wouldn't be acceptable to the mortgage company. The length of lease and ground rent will be specified in the lease which should be made available to your property lawyer.