I am nearing an exchange on a house in Ramsgate and my parents have sent the 10% deposit to my property lawyer. I am now advised that as the deposit has been received from someone other than me my conveyancer needs to disclose this to my lender. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I informed the bank regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
The lawyer is obliged to clarify with lender to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Are the Ramsgate conveyancing solicitors identified as being on the TSB conveyancing panel, together with their details provided by TSB?
Ramsgate conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
I am considering refinancing my home in Ramsgate, does my lawyer have to be on the Coventry BS Conveyancing panel?
In theory, you could use a solicitor that is not on the Coventry BS conveyancing panel, but Coventry BS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
4 months have elapsed following my purchase conveyancing in Ramsgate took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Hoping to buy a property located in Ramsgate and I am already nervous. I couldn't find anything specific about Ramsgate. Conveyancing will be needed in due course but do you know about the Ramsgate area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Ramsgate. In the meantime here are some basic statistics that we found
Why can't I complete our conveyancing in Ramsgate on Easter Monday?
Because on completion the purchase price will pass between the banks of the purchaser and owner’s lawyer and currently this can only happen on a working day. It is not possible to complete on a weekend either.