We are buying a apartment in Houghton Le Spring. I might seem paranoid but how we can trust a solicitor? On completion day we will need to deposit money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I had a mortgage agreed in principle with Virgin Money. Houghton Le Spring conveyancing lawyers were chosen. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
Some lenders take longer than others. Have Virgin Money done the survey? Have you advised Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Houghton Le Spring building society branch on a couple of occasions and was reassured it wasn't an issue and they would lend. My Houghton Le Spring conveyancing solicitor - who is on the bank conveyancing panel- called and was told they will not lend in accordance with their specific requirements. Who do I believe?
As long as the property lawyer is on the mortgage company panel, they must follow the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
My partner and I are selling our house in Houghton Le Spring and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any local conveyancer would know that there is no such problem. It does beg the question why the purchasers are using an online conveyancing outfit as opposed to a conveyancing solicitor in Houghton Le Spring. We have lived in Houghton Le Spring for six years we know of no issue. Do we get in touch with our local Authority to get confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
My wife and I purchased a 4 bedroom Edwardian house in Houghton Le Spring. Conveyancing lawyer acted for me and Aldermore. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold with the matching property. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Houghton Le Spring and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with your conveyancing solicitor who completed the work.
I am buying my first flat in Houghton Le Spring with a loan from Aldermore. The developers would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent told me not disclose to my conveyancer about the extras as it may impact 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.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Houghton Le Spring is where the house is located. Can you shed any light on this issue?
Flying freeholds in Houghton Le Spring are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Houghton Le Spring you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Houghton Le Spring may ascertain 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 premises.
My husband and I are first time buyers - had an offer accepted, yet the estate agent informed us that the seller will only proceed if we instruct the agent's recommended solicitors as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a family solicitor who is familiar with conveyancing in Houghton Le Spring
It is highly unlikely the sellers are driving this. If they desire ‘a quick sale', turning down a genuine purchaser is counter productive. Contact the vendors directly and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you will continue to appoint your preferred Houghton Le Spring conveyancing lawyers - as opposed tothose that will earn their estate agent a kickback or hit his conveyancing figures demanded by senior management.