My partner and I are approaching an exchange on a property in Lydiate and Melling and my parents have sent the ten percent deposit to my conveyancer. I am now informed that as the deposit has been sent from someone other than me my property lawyer needs to make a notification to my bank. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I informed the mortgage company about my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your property lawyer is legally required to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
It is 10 years ago since I acquired my house in Lydiate and Melling. Conveyancing solicitors have recently been appointed on the sale but I can't find the title documents. Is this a problem?
Don’t worry too much. Firstly there is a chance that the deeds will be with the mortgage company or they could stored with the conveyancers who handled the purchase. Secondly in most cases the property will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring up to date copy of the land registers. Nearly all conveyancing in Lydiate and Melling involves registered property but in the rare situation where your home is not registered it is more of a problem but is not insurmountable.
five months have gone by since my purchase conveyancing in Lydiate and Melling concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Lydiate and Melling differ for new build properties?
Most buyers of new build property in Lydiate and Melling come to us having been asked by the seller to sign contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Lydiate and Melling typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Lydiate and Melling or who has acted in the same development.
My father-in-law has recommend that I appoint his lawyers for conveyancing in Lydiate and Melling. Should I choose my own solicitor?
There are no two ways about it the ideal way to find a conveyancing practitioner is to seek feedback from friends or family who have previously instructed the firm you're considering.
Should one as executor remove a departed person's name from the title register for a house in Lydiate and Melling?
If a Lydiate and Melling property is jointly owned and one of the proprietors passes away, the name will not immediately be removed from the title deeds. It is not necessary to amend the title as in the event of a sale you would just be asked to evidence why the joint proprietor is missing from the contract, usually this is in the form of the probate documents.
With a view to making the sale conveyancing simpler for the sale of the property you can arrange to have the deceased person removed from the title by submitting an application to the land registry with evidence of the death. There is no land registry fee payable.