My partner and I are only a couple days away from an exchange on a flat in Northop Hall and my mum and dad have sent the 10% deposit to my property lawyer. I am now told that as the deposit has been received from someone other than me my lawyer 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 coming from anyone other than me. I informed the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?
Your conveyancing practitioner is obliged to check with mortgage company to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
I purchased a terraced Edwardian house in Northop Hall. Conveyancing lawyer acted for me and The Mortgage Works. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Northop Hall and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with your conveyancing practitioner who conducted the purchase.
I am purchasing my first flat in Northop Hall with the aid of help to buy. The sellers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not disclose to my lawyer about the extras as it would adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey completed on a house in Northop Hall before instructing conveyancers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies tend not give a loan on this type of house.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. Should you wish to call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Northop Hall. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Northop Hall to see if the conveyancing will be more expensive.
I need to appoint a conveyancing solicitor for sale conveyancing in Northop Hall. I've chance upon a web site which looks to be the perfect offering If it is possible to get all the legals completed via email that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My property lawyer in Northop Hall is asking me for identification documents saying that this forms part of his obligations as a conveyancer on the mortgage company Solicitor panel. Is this right?
Anti-terror and anti-money-laundering rules require Northop Hall conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that the lender also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the mortgage company's UK Finance Lenders’ Handbook requirements