My husband and I are nearing an exchange on a property in Mossley Hill and my mum and dad have sent the 10% deposit to my lawyer. I am now advised that as the deposit has been sent from someone other than me my lawyer needs to disclose this to my mortgage company. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I advised the mortgage company about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
The property lawyer is obliged to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Can you clarify what the consequences are if my solicitor is expelled from the Coventry BS Solicitor panel ahead of completing my conveyancing in Mossley Hill?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Will commercial conveyancing searches reveal proposed roadworks that may affect a commercial land in Mossley Hill?
Many commercial conveyancing solicitors in Mossley Hill will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Mossley Hill. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Mossley Hill.
For each commercial conveyancing transaction in Mossley Hill it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could cause delays to Mossley Hill commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Mossley Hill.
Are there restrictive covenants that are commonly identified as part of conveyancing in Mossley Hill?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Mossley Hill. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the encouragement of my in-laws I had a survey completed on a property in Mossley Hill in advance of instructing conveyancers. I have been advised that there is a flying freehold element to the property. The surveyor has said that some mortgage companies tend refuse to grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions from Nationwide. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Mossley Hill. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Mossley Hill to see if the conveyancing will be more expensive.
My partner has recommend that I instruct his conveyancers in Mossley Hill. Should I use them?
No doubt the best way to choose a conveyancing lawyer is to get guidance from friends or relatives who have previously instructed the conveyancer you're are thinking of instructing.