We are getting closer to an exchange on a house in Hartburn and my mum and dad have transferred the exchange deposit to my solicitor. I am now informed that as the deposit has been received from someone other than me my property lawyer needs to disclose this to my bank. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the bank about my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The property lawyer is obliged to check with mortgage company to ensure that they understand 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.
We see that you have a search directory identifying firms on the Virgin Money conveyancing panel. Do companies pay you a commission if I retain them for our own conveyancing in Hartburn?
We are a listing service only for law firms wishing to communicate if they are on the Virgin Money conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Hartburn.
My bank has recommended a law firm on their panel based in Hartburn but I would rather use a conveyancing lawyer in Hartburn local to me. Are you able to assist?
It is by no means the case that all Hartburn conveyancing solicitors are on all lender’s conveyancing panel. Use the above find an approved solicitor tool to locate a Hartburn conveyancing conveyancer on the on the lender panel.
I am purchasing my first flat in Hartburn with the aid of help to buy. The sellers would not move on the price so I negotiated 6k of extras instead. The property agent suggested that I not inform my solicitor about this deal as it will adversely affect my loan with the bank. Is this normal?.
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 opted to have a survey completed on a house in Hartburn prior to retaining lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some lenders will not grant a loan on this type of premises.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. If you call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hartburn. Conveyancing will be smoother if you use a solicitor in Hartburn especially if they are familiar with such properties in Hartburn.
I need to find a conveyancing solicitor for freehold conveyancing in Hartburn. I happened to land on a site which appears to be the perfect offering If there is a chance to get all formalities completed via phone that would be ideal. Should I be concerned? What are the potential pitfalls?
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?