My wife and I are nearing an exchange on a house in Hampden Pk and my parents have transferred the 10% deposit to my solicitor. I am now advised that as the deposit has been received from someone other than me my property lawyer needs to make a notification to my lender. Apparently, 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 mortgage company regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The conveyancer is obliged to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I have today made my last payment due on my mortgage with Principality. I assume I don't need a Hampden Pk conveyancer on the Principality panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
Planning on purchasing a house in Hampden Pk. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Hampden Pk conveyancing practitioner is on the Coventry BS conveyancing panel.
After shopping around on the internet I have found a Hampden Pk conveyancer having checked that they are on the Co-operative conveyancing panel. Does my lawyer arrange the survey of the property?
Co-operative will need an independent valuation of the property. Your lawyer will not arrange this. Usually Co-operative 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. You may wish to consider appointing your own Hampden Pk surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
What does a local search reveal concerning the house my wife and I purchasing in Hampden Pk?
Hampden Pk conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search organisations for example Xpress Legal The local search is essential in every Hampden Pk conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your new home. The search should supply data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
I'm purchasing my first flat in Hampden Pk benefiting from help to buy. The builders would not reduce the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep told me not disclose to my conveyancer about this side-deal as it would affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I was recommended by two or three local property agents in Hampden Pk to find a conveyancer using your seach tool. What’s the financial upside for Estate Agents to recommend your services over and above alternative conveyancing organisations?
We don’t give any referral fee for directing people to this site. We thought it would be too underhand to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
We have had DIP from Halifax who suggested we could borrow up to £117k. When do I need to appoint a lawyer for conveyancing? Hampden Pk is where we plan to move to.
You can appoint a conveyancing practitioner now and ask them to open a file on your behalf. This will trigger: 1) the selling agent to issue a Sales Memo to the relevant parties 2) the seller’s conveyancer to send out the draft paperwork. However, do not ask your conveyancing practitioner to start searches until you have your valuation report from Halifax and you are content to move forward.