My partner and I are getting closer to an exchange on a house in Romsley and my parents have transferred the 10% deposit to my property lawyer. I am now informed that as the deposit has not arrived from me my conveyancer needs to disclose this to my lender. I am advised that, in also acting for the bank he must advise 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 appropriate for him to raise this?
The 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 resources. The solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
We see that you have a search directory listing solicitors on the UBS conveyancing panel. Do companies pay you a commission if I retain them for our own conveyancing in Romsley?
We are a listing service only for law firms wishing to communicate if they are on the UBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Romsley.
I am helping my sister sell her flat in Romsley. Does the conveyancer commission the energy performance certificate or should I organise this?
Following the abolition of Home Information Packs, energy assessments was retained a required component of selling a house. An EPC needs to be commissioned before the property is placed on the market. This is not a task that law firms ordinarily organise. If you are instructing a Romsley conveyancing lawyer they might be able to arrange EPC’s given their relationships with long established local energy assessors
I'm the only recipient of my late mum's will and I have everything in my name now, including the my former home in Romsley. The Romsley property was put into my name in September. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship may be treated the same way as if I'd bought the property in September. Do I have to wait half a year to sell?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How practical a view banks take of it, depend on the lender as this obligation is principally there to capture the purchase and immediately sell or the quick reselling of properties.
How can we know in advance if a Romsley conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in Romsley obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer conducting your transaction.
How does conveyancing in Romsley differ for newly converted properties?
Most buyers of new build or newly converted property in Romsley approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Romsley typically purchase the site, 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 conveyancers 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 accustomed to new build conveyancing in Romsley or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what was supposed to be a quick, no chain conveyancing. Romsley is the location of the property. Can you offer any advice?
Flying freeholds in Romsley are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Romsley you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Romsley may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I acquired a house in Romsley last 12/7/2024 and to date it is still not registered with HM Land Registry. It was part of a development site and my property lawyer told me that it may take over a year to register. I have spoken with HMLR directly and they say that the original application was cancelled due to failure to reply to requisitions. Do I need to be concerned?
Call your solicitor - Where you are unsatisfied with the responses, find out about their firm’s complaints protocol and escalate your concerns to a Partner. Registrations for Romsley conveyancing are not known to be particularly slow.