My husband and I are only a couple days away from an exchange on a house in Lacock and my mum and dad have sent the 10% deposit to my conveyancer. I am now advised that as the deposit has been received from someone other than me my conveyancer needs to make a notification to my mortgage company. Apparently, 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 informed the bank concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
The conveyancing practitioner is obliged to clarify with the bank to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
We are selling our house in Lacock and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers are using a national conveyancing firm rather than a conveyancing solicitor in Lacock. We have lived in Lacock for many years we know that this is a non issue. Do we contact our local Authority to seek confirmation need.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You must 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 life insurance to cover that same illness)
I'm buying my first flat in Lacock with a mortgage from The Mortgage Works. The sellers refused to budge the price so I negotiated £7000 of additionals instead. The sale representative advised me not disclose to my conveyancer about the side-deal as it would adversely affect my mortgage 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 done on a house in Lacock before retaining conveyancers. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some banks may refuse to grant a mortgage on a flying freehold house.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. If you e-mail us we can look into this further with 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 Lacock. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Lacock to see if the conveyancing will be more expensive.
In sourcing the internet for the phrase conveyancing in Lacock it brings up numerous property lawyersin the area. How do I determine which is the right conveyancer for purchase transaction?
The preferential way of seeking a suitable conveyancer is through a trusted testimonial, so ask friends and relatives who have bought a property in Lacock or the reputable estate agent or mortgage broker. Fees for conveyancing in Lacock differ, so it's a good idea to request at least three fee calculations from varying types of companies. Be sure to secure confirmation that the charges are assured not to rise.
Is planning permission needed to convert a house into a couple of appartments in Lacock? This has occurred to a property opposite to a friend in Lacock and was ignorant of the conversion until after the works were done.
Planning permission is needed for splitting a single dwelling in Lacock into apartments but probably not for converting back to single dwelling-house so, simply put, yes.