My husband and I are nearing an exchange on a flat in Maidenhead and my parents have sent the exchange deposit to my property lawyer. I am now advised that as the deposit has been received from someone other than me my conveyancing practitioner needs to disclose this to my lender. 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 bank regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
Your solicitor is obliged to check with the bank to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
What does my ID and proof of funds have anything to do with my conveyancing in Maidenhead? What am I being asked for?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing business. The Terms and Conditions that you are required to sign should stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you.
We have agreed to purchase a house in Maidenhead. A rare aspect is that the roof has a solar panel. Bank of Ireland have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Bank of Ireland your lawyer must comply with the formal requirements contained in Part two of UK Finance Lenders’ Handbook for Bank of Ireland. The CML Handbook sets out minimum conditions for solar panel roof-space leases, and lawyers are required to report to Bank of Ireland where a lease does not comply with these specifications. The provisions relate to the installation of panels on properties countrywide and is not limited to Maidenhead.
I have paid off my mortgage with Aldermore. I assume I don't need a Maidenhead property lawyer on the Aldermore panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
I have a mortgage with Santander for my property in Maidenhead. Conveyancing was finalised 12 months ago. If I am intending 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 Santander?
You must advise Santander prior to letting out your property as this is likely to be a breach of Santander’s mortgage conditions. It may be that Santander 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 Santander directly. You need not do this via a Santander conveyancing panel lawyer.
five months have elapsed following my purchase conveyancing in Maidenhead concluded. I have checked the Land Registry website which shows that I paid £150,000 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.
I am selling my home. My past conveyancers has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Maidenhead if that affects matters.
You should use our search tool to help you choose a solicitor for your conveyancing in Maidenhead. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.
We're FTB’s - agreed a price, yet the selling agent informed us that the seller will only proceed if we use the agent's preferred lawyers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a local solicitor accustomed to conveyancing in Maidenhead
We suspect that the owner is unaware of this requirement. If they desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is counter productive. Try to communicate with the sellers directly and make the point that (a)you are keen to buy (b)you are ready to go, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)but you intend to instruct your own,trusted Maidenhead conveyancing firm - not the ones that will earn the estate agent a introducer fee or achieve conveyancing figures pre-set by senior management.