I am nearing an exchange on a house in Seaham and my parents have transferred the ten percent deposit to my property lawyer. I am now informed that as the deposit has been sent from someone other than me my conveyancer needs to make a notification to my mortgage company. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?
The property lawyer is legally required to check with the bank to make sure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Can I use your services to find a Conveyancing solicitor in Seaham even if I’m not purchasing or selling a house, for instance where I intend to acquire an office in Seaham with a mortgage from The Mortgage Works?
Our search tool is predominantly used to locate domestic conveyancing solicitors in Seaham but we have recorded at the bottom of this page a few Seaham commercial conveyancing firms. You will need to speak with the firm directly to check if they can also act for The Mortgage Works
We're in Seaham, First timers purchasing with a mortgage (lender is UBS , and our lawyer is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Various online forums that I have come across warn that are the primary reason for delay in Seaham conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of slowing down conveyancing in Seaham.
How does conveyancing in Seaham differ for newly converted properties?
Most buyers of new build premises in Seaham approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Seaham tend to purchase 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 conveyancing solicitors 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 Seaham or who has acted in the same development.
I am selling my home. My past solicitors closed down. I am in need of a recommendation of a conveyancing firm. I happen to live in Seaham if that affects matters.
You should use our search tool to help you find a solicitor for your conveyancing in Seaham. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.