My husband and I are approaching an exchange on a house in Padstow and my parents have sent the ten percent deposit to my conveyancer. I am now told that as the deposit has been received from someone other than me my conveyancing practitioner needs to make a notification to my lender. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I advised the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your solicitor is obliged to check with the bank to ensure that they know that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Is there a search tool that I can utilise to check that the solicitor handling my conveyancing in Padstow is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Barnsley Building Society thus spending £192.00 in another set of conveyancing bill.
You should take advantage of the find a conveyancing panel solicitor tool on this page. Please choose the lender and type ‘Padstow’ or your location and you will discover numerous conveyancers offices in Padstow or nearest you.
My wife and I own a terraced Edwardian property in Padstow. Conveyancing practitioner acted for me and Britannia. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold under the exact same property. 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 as there may be 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 Padstow and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing solicitor who conducted the work.
Just had an offer accepted on a new build apartment in Padstow. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Padstow
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I'm refinancing my existing property to a BTL loan with HSBC Bank and intend to use the remaining equity towards further property. The area we are talking about is Padstow. Will your conveyancers be able to act for both sets of mortgage companies and tie in the two deals?
Make use of our comparison tool on this site to check that the solicitors are approved by both lenders. On the basis that they are your conveyancer should be able to tie up the two conveyancing matters but you should have a chat with you conveyancer and communicate your expectations and needs.
Our conveyancing in Padstow completes next Friday, yet the vendors I am purchasing from wants to move out on the Saturday PM. Should I agree to such a plan?
It is not possible to complete on a Saturday because the bank systems are not operating.