My husband and I are getting closer to an exchange on a flat in Mossley Hill and my mum and dad have transferred the exchange deposit to my lawyer. I am now told that as the deposit has not come from me my solicitor needs to disclose this to my lender. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I advised the bank about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
Your property lawyer is duty bound to clarify with lender to ensure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front for my conveyancing in Mossley Hill?
If you are buying a property in Mossley Hill your solicitor will ask you put them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. When the down payment is as part of the sale price then this should be needed immediately in advance of exchange of contracts. The closing balance that is due should be transferred a couple of days ahead of the completion date.
Is there a search tool that I can use to discover of the solicitor conducting my conveyancing in Mossley Hill is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Yorkshire Building Society thus paying £187.00 plus VAT in another set of conveyancing invoice.
Feel free to make use of the search tool on this page. Please choose the lender and type ‘Mossley Hill’ or your location and you will be presented with a number of lawyer based in Mossley Hill or by proximity to you.
Various internet forums that I have frequented warn that are the number one reason for hinderance in Mossley Hill conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Local searches are not likely to feature in any delay in conveyancing in Mossley Hill.
The deeds to our home can not be found. The solicitors who dealt with the conveyancing in Mossley Hill 10 years ago no longer exist. What do I do?
In today’s world there are copies made of almost everything, and your conveyancer will know exactly where to look for all the relevant paperwork so you can purchase or sell your house without any difficulty. Where duplicates are not available, your solicitor can arrange cover in the form of insurance or indemnities protecting you against possible claims on your property.
Due to the encouragement of my in-laws I had a survey completed on a house in Mossley Hill ahead of retaining solicitors. I have been told that there is a flying freehold element to the house. The surveyor has said that some mortgage companies will not give a mortgage on such a property.
It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. If you contact us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Mossley Hill. Conveyancing may be slightly more expensive based on your lender's requirements.