My partner and I are nearing an exchange on a house in Homerton and my parents have sent the 10% deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my solicitor needs to disclose this to my mortgage company. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the bank regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The property lawyer is obliged to clarify with lender to make sure that they know that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Do I need to attend the offices of the solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Homerton so that I can pop in to their offices when needed.
As opposed to ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to provide identification documents and there are still manifest advantages to instructing a local practitioner, in your case a conveyancing solicitor in Homerton.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Homerton?
There are many recorded licenced Conveyancers in Homerton and Solicitor practices in Homerton who provide Conveyancing services It is important to make clear that the two are regulated professionals specialising in the legal work in the home buying process. They may both also conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Is there a list of Aldermore panel conveyancers in Homerton on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. Very few lending institutions make their panel listings available over the internet. If you are looking for a Homerton solicitor on the Aldermore please make the most of our facility.
I recently had an offer accepted on an apartment in Homerton. My mortgage broker suggested a property lawyer. I paid an upfront payment of £175. A couple of days later, the property lawyer contacted me to say that they were not on the Skipton 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 Skipton 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.
I'm buying my first flat in Homerton with a loan from TSB. The sellers refused to move on the amount so I negotiated 6k of additionals instead. The house builders rep suggested that I not reveal to my conveyancer about this side-deal as it will put at risk my loan with TSB. Do I keep my lawyer in the dark?.
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've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Homerton is where the house is located. Can you offer any opinion?
Flying freeholds in Homerton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Homerton you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Homerton may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My wife and I are FTB’s just having agreed a price on a property in Homerton, and need to get solicitors instructed. We have utilised the numerous comparison tools and the fee estimates are from all over the country. Is it essential to have a Homerton conveyancing practitioner local to your potential new home? We are fine to do all the communicating electronically, but I assume at some stage we will need to attend the solicitor's office to sign contracts?
The conveyancing practitioner does not have to be in Homerton, but choosing local means that you have the option to attend their offices if required, for instance, if a signature is immediately necessary. Also, a Homerton solicitor have established relationships with local agents and (if the vendor has instructed a local property lawyer) with them, which will help keep things moving faster.