I am approaching an exchange on a flat in Longton and my parents have transferred the 10% deposit to my conveyancer. I am now informed that as the deposit has not come from me my property lawyer needs to disclose this to my mortgage company. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your property lawyer is legally required to check with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would prefer to appoint a Longton based conveyancing firm?
You should check but the chances are that appoint one of their panel conveyancers where you take up the "fee-free" deal. Call the lender to ask if they offer you a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor in Longton.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Longton?
There are many recorded licenced Conveyancers in Longton and Solicitor partnerships in Longton who can help with your conveyancing It is important to make clear that both are regulated professionals specialising in the legal aspects of the home buying process. The two can conduct associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
We have agreed to purchase a house in Longton. A rare aspect is that the roof has a solar panel. HSBC have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with HSBC your lawyer must check the formal instructions outlined in Part two of UK Finance Lenders’ Handbook for HSBC. The Council of Mortgage Lenders’ Handbook includes minimum conditions for solar panel roof-space leases, and property lawyers are required to report to HSBC where a lease does not meet these conditions. The provisions relate to the installation of panels on properties countrywide and is not isolated to Longton.
I currently have a mortgage with HSBC for my property in Longton. Conveyancing has been completed a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform HSBC?
HSBC must be informed of your intention prior to renting your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. You need not do this via a HSBC conveyancing panel firm.
We are downsizing from our property in Longton and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A local conveyancer would know this is not the case. For the life of me I don't know why the buyers are using an online conveyancing firm rather than a conveyancing solicitor in Longton. We have lived in Longton for six years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You must check with 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 sickness)
I am looking for a flat up to £245,000 and found one near me in Longton I like with open areas and transport links in the vicinity, the downside is that it's only got 52 years unexpired on the lease. There is not much else in Longton in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan that many years will likely be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
In sourcing the world wide web for the words conveyancing in Longton it brings up many property lawyersin the area. With so much choice what is the best way to find the right solicitor for the sale of my house?
The ideal method of finding the right conveyancer is through a trusted testimonial, so ask colleagues and family who have purchased a property in Longton or a reputable estate agent or mortgage broker. Costs for conveyancing in Longton differ, so it's advisable to obtain a minimum of three fee calculations from varying types of law firms. Be sure to seek confirmation that the fees are fixed.