My partner and I are getting closer to an exchange on a house in Leighton Buzzard and my mum and dad have transferred the exchange deposit to my conveyancing practitioner. I am now advised that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my mortgage company. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?
The property lawyer is legally required to clarify with lender to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
My fiance and I are purchasing a 2 bedroom apartment in Leighton Buzzard with a mortgage from HSBC Bank.We like our Leighton Buzzard conveyancing lawyer but HSBC Bank says he's not on their approved list of firms. we are left little option but to use a HSBC Bank panel lawyer or keep our preferred solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan issued to you is subject to its terms and conditions, one of which will be that lawyers must be on the HSBC Bank approved list. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for HSBC Bank
This question may be naive but I am unexperienced as a 1st time buyer of a two bedroom flat in Leighton Buzzard. Do I receive the keys to the premises on completion from my conveyancer? If so, I will instruct a local conveyancing solicitor in Leighton Buzzard?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the seller's lawyers, and once they have received this, you will be able to pick up the keys from the selling Agents and move into your new home. Usually this happens early afternoon.
When it comes to mortgage companies such as Lloyds, do Leighton Buzzard property lawyers incur a yearly amount to be on the list of approved solicitors?
We are not aware of any lender fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
is it true that all Leighton Buzzard solicitors on the Clydesdale conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Clydesdale conveyancing panel they would need to be governed by the SRA. The majority of banks do permit licenced conveyancers on their panel in which case such firms would be regulated by the CLC.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to take this when purchasing a property in Leighton Buzzard? or Apparently there is an ancient law that could mean that house owners residing in a parish church boundary will be compelled to contribute towards maintenance towards the chancel in proximity to the church. Is this relevant for conveyancing in Leighton Buzzard?
Unless a previous purchase of the premises completed after 12 October 2013 you could take it that solicitors conducting conveyancing in Leighton Buzzard to remain encouraging a chancel search and or chancel repair liability policy.
Are there restrictive covenants that are commonly identified during conveyancing in Leighton Buzzard?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Leighton Buzzard. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Been on the hunt for a conveyancer for freehold sale conveyancing in Leighton Buzzard. I'm selling, uncomplicated no mortgage to redeem, no hurry, no onward chain. Got a quote from a conveyancer for a thousand pounds excluding VAT which is a little high considering its so straightforward. Is it possible to find less expensive fees for conveyancing in Leighton Buzzard?
Considering it’s a sale only, £425 + VAT would be about the best for a Leighton Buzzard solicitor firm.