We are approaching an exchange on a flat in Finsbury and my parents have transferred the 10% deposit to my conveyancer. I am now informed 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 necessary for him to raise this?
The conveyancing practitioner is legally required to clarify with mortgage company to ensure 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 bank if you agree, failing which, your lawyer must cease to continue acting.
I got the keys to my house on 9 March and my personal details is not yet on the land registry website. Should I be concerned? My conveyancing solicitor in Finsbury expressed confidence that it would be recorded inside ten days. Are properties in Finsbury particularly slow to register?
As far as conveyancing in Finsbury is concerned, registration is no faster or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timescales can differ subject to the party submitting the application, whether there are errors and if the Land registry communicate with any 3rd persons or bodies. Currently in the region of 80% of such applications are fully dealt with in less than three weeks but some can be subject to protracted hold-ups. Historically registration takes place after the new owner has moved in to the property therefore registration formalities is not typically top priority yet where there is a degree of urgency associated with the registration then you or your lawyers could communicate with the Registry to express the reasoning for the application to be prioritised.
I'm buying my first flat in Finsbury benefiting from help to buy. The sellers refused to budge the price so I negotiated £7000 of additionals instead. The property agent suggested that I not reveal to my solicitor about this extras as it may affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
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At this site get an accurate costs illustration from a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Finsbury. Unlike many estate agents and many comparison sites we are not in the business of charging firms a fee if you select them for your home move in Finsbury
I need to instruct a conveyancing practitioner in Finsbury for my house move. Is it possible to see a solicitor's complaints history with the legal regulator?
You may see documented Solicitor Regulator Association (SRA) decisions stemming from inquisitions commenced on or after Jan 2008. Visit Check a solicitor's record. For information Pre 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The SRA sometimes recorded call for training requirements.
Me and my partner have just had an offer agreed on a apartment and had meeting on Friday with HSBC for the mortgage. They have informed us that when it comes to appointing a solicitor that if they are not on their approved list of property lawyers then we will have to pay out an additional fee of £200. This is because they will then have to instruct a conveyancer to act on their behalf as well as the one we choose to act for ourselves and we are liable for their invoice. I have asked HSBC to send me with a list so I can request quotes only from their approved solicitors but was told that I need to check with each individual conveyancer to see if they are on the panel. What would be the best way of going about this?
Ask HSBC what their criteria for joining their panel is for a conveyancer.Thereafter ask the conveyancer of your choice whether they fit that criteria and have they acted on loans for HSBC in the past. Where the answer to those is yes, then just clarify this with HSBC. Alternatively please make use of our search facility and we should be able to identify a conveyancer in Finsbury on the panel for HSBC.