My wife and I are nearing an exchange on a flat in Quorn and my parents have sent the 10% deposit to my lawyer. I am now informed that as the deposit has been received from someone other than me my solicitor needs to make a notification to my bank. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I disclosed to the mortgage company about my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
The conveyancer is duty bound to check with mortgage company to make sure that they understand 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.
Why do I have to pay up front for conveyancing in Quorn?
If you are buying a property in Quorn your solicitor will ask you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. When the down payment is as part of the sale price then this should be needed shortly in advance of contracts are exchanged. Any further balance that is due should be transferred a few days ahead of the day of completion.
This question may be naive but I am unseasoned as FTB of a two bedroom flat in Quorn. Do I pick up the keys to the property on completion from my solicitor? If so, I will use a local conveyancing solicitor in Quorn?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the vendor’s conveyancers, and once they have received this, you will be able to receive the keys from the Estate Agents and start moving into the property. Usually this happens early afternoon.
Is it the case that all Quorn CQS (Conveyancing Quality Scheme) solicitors are on the Skipton conveyancing panel?
It is true that some lenders now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
We had selected solicitors located in Quorn on the Leeds Building Society solicitor panel. They have just billed me a supplemental sum for handling the Leeds Building Society mortgage. Is this an additional conveyancing fee specified by Leeds Building Society?
As unfair as it may appear, as long as it’s in their Terms and Conditions or Quote then yes your property lawyer can charge a fee for this. The fee is not set by Leeds Building Society but by your Quorn conveyancing practitioner. Numerous firms on the Leeds Building Society panel will levy an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
My partner and I are planning on selling our house in Quorn and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. Any high street Quorn lawyer would know this is not the case. For the life of me I don't know why the buyers instructed an online conveyancing firm rather than a conveyancing solicitor in Quorn. Having lived in Quorn for six years we know of no issue. Is it a good idea to get in touch with our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I completed on my home on 16 April and the transaction details are still not registered. Should I be concerned? My conveyancing solicitor in Quorn advises it should be dealt with in a couple of weeks. Are transfers in Quorn particularly slow to register?
There is nothing unique when it comes to conveyancing in Quorn registration formalities. As opposed to being determined by geographic area, timeframes can vary according to the party submitting the application, whether there are errors and if the Land registry communicate with any other persons or bodies. At present in the region of three quarters of such applications are completed within 12 days but some can be subject to extensive hold-ups. Historically registration takes place after the new owner has moved in to the property so 'speed' is not typically top priority but where there is a degree of urgency associated with the registration then you or your solicitor should contact the land registry and explain the circumstances.
I decided to have a survey done on a property in Quorn ahead of retaining lawyers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some mortgage companies will not give a loan on this type of property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Quorn. Conveyancing may be slightly more expensive based on your lender's requirements.