My wife and I are approaching an exchange on a flat in Leicester and my parents have transferred the ten percent deposit to my property lawyer. I am now informed that as the deposit has not come from me my lawyer needs to make a notification to my mortgage company. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the lender regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The property lawyer is legally required to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
We see that you have a post code search directory listing solicitors on the Lloyds conveyancing panel. Do firms pay you a referral fee if I retain them for our own conveyancing in Leicester?
We are a listing service only for law firms wishing to communicate if they are on the Lloyds conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Leicester.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel conveyancer as I would much rather instruct a Leicester based conveyancing firm?
You should check but the the probability is that give you one of their panel lawyers should you take up the "fee-free" offer. Contact the mortgage company and check if they allow a monetary alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Leicester.
The deeds to our property are lost. The lawyers who dealt with the conveyancing in Leicester 4 years ago are no longer around. What are my options?
These day there are copies made of almost everything, and your lawyer should be aware exactly where to find all the appropriate paperwork so you can buy or dispose of your house without a hitch. Where duplicates can’t be located, your lawyer can put in place insurance or indemnities protecting you against possible claims on your premises.
I am looking for a flat up to £245,000 and identified one close by in Leicester I like with amenity areas and station nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in Leicester suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan that many years will likely be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
Do I need to have a meeting at the offices of the bank conveyancing panel solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Leicester so that I can attend their offices if necessary.
Whereas this was necessary 12 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Leicester.