I am approaching an exchange on a property in Lyme Regis and my mum and dad have transferred the exchange deposit to my lawyer. I am now advised that as the deposit has been received from someone other than me my 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 coming from anyone other than me. I informed the lender regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
Your conveyancing practitioner is obliged to clarify with lender to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
When it comes to mortgage companies such as Nottingham, do Lyme Regis property lawyers have to pay a yearly amount to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
My wife and I are at the point of looking at houses in Lyme Regis and I am now considering a potential offer. Is it too early to have a solicitor in place? I intend to finance via a home loan with RBS.
You should start obtaining conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. Given that you are taking out a mortgage with RBS, make sure you remember to check that your lawyer is on the RBS conveyancing panel.
The formalities of my purchase has taken place for my property in Lyme Regis. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
How does conveyancing in Lyme Regis differ for new build properties?
Most buyers of new build residence in Lyme Regis approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is finished. This is because house builders in Lyme Regis usually acquire the land, 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 conveyancers 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 Lyme Regis or who has acted in the same development.
My company is intending to lease a unit on the high street. Can you recommend conveyancers offering fixed charges for non-domestic conveyancing in Lyme Regis for below £1,200?
We are happy to recommend firms who have well rounded knowledge of commercial conveyancing in Lyme Regis, including the sale and purchase of businesses as well as simply property. If you are hoping to purchase or sell a shop, pub, restaurant, office, retail unit or a whole business we will find you the right solicitor. As for the fees this will depend on the structure and terms of the proposed transaction. Let us have your contact information or phone us so that we may provide you with a detailed commercial conveyancing quote.
We're novice buyers - agreed a price, yet the estate agent told us that the seller will only move forward if we instruct their chosen lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Lyme Regis
We suspect that the seller is not behind this ultimatum. Should the seller require ‘a quick sale', turning down a genuine buyer is is going to put the whole deal at risk. Avoid the agents and go straight to the sellers and explain that (a)you are motivated buyers (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you are going to appoint your own,trusted Lyme Regis conveyancing solicitors - rather thanthe ones that will give the negotiator at the agency a commission or hit his conveyancing targets set by HQ.
I have appointed a Lyme Regis conveyancing solicitor for our house purchase (FTB’s) and have noticed in the engagement letter that they are not governed by the FCA. Should I be worried or is that usually the case with property lawyer?
We can't see why they should be. Most solicitor don't lend money. You should check that they are governed by the SRA, who set strict laws in relation to monies sitting by them.