We are approaching an exchange on a flat in Portishead and my mum and dad have sent the 10% deposit to my conveyancer. I am now told that as the deposit has not come from me my lawyer needs to disclose this to my bank. Apparently, 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 regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The conveyancer 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 disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
I just bought a house at auction in Portishead. Conveyancing is necessary. What are my next steps?
Given that you are now for all intents and purposes signed on the dotted line you now have to choose a conveyancing lawyer soon as you are facing a pending a fixed date to complete the transaction. An auction property will have a corresponding auction set of papers. This will include most,if not all of the paperwork that your conveyancer requires. Where you are dealing with leasehold premises the legal pack may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to a leasehold property. You need to give this to the solicitor working for you ASAP. Do make sure that you have funds in order to complete the transaction on the set completion date.
After much negotiation I have agreed a price on a house in Portishead. My mortgage broker suggested a property lawyer. I paid an advanced payment of £150. Soon after, the conveyancing practitioner called me embarrassingly acknowledging that they were not on the Yorkshire BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Yorkshire BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I was told two weeks ago that my mortgage has been agreed to by Clydesdale. Is it usual for Clydesdale to only issue the offer once my solicitor in Portishead is approved on their conveyancing panel? Clydesdale have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Clydesdale to deal with your lawyer's application to be on the Clydesdale conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in Portishead differ for new build properties?
Most buyers of new build property in Portishead contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is completed. This is because builders in Portishead typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Portishead or who has acted in the same development.
Over the last few months I have been searching for a flat up to £235,500 and found one close by in Portishead I like with a park and railway links in the vicinity, however it only has 52 years on the lease. I can't really find anything else in Portishead in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage that many years will likely be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
Is it simple use your search facility to select a conveyancing practitioner in Portishead on the authorised to act for my lender?
1st choose a bank such as Barclays , The Royal Bank of Scotland or Nottingham Building Society then specify your location e.g. Portishead. Conveyancing organisations in Portishead and beyond should be identified.
My brother has recommend that I use his lawyers for conveyancing in Portishead. Should I choose my own conveyancer?
Much as we are happy to recommend a Portishead conveyancing lawyer the best way to find a conveyancing practitioner is to get recommendations from friends or relatives who have actually previously instructed the conveyancer that you are are thinking of instructing.