My wife and I are approaching an exchange on a house in South London and my mum and dad have transferred the ten percent deposit to my property lawyer. I am now told that as the deposit has not come from me my lawyer needs to make a notification to my bank. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I informed the mortgage company about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The solicitor is obliged to check with lender 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 bank if you agree, failing which, your lawyer must cease to continue acting.
It has been five months following my purchase conveyancing in South London took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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 premises 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.
I am buying my first flat in South London with the aid of help to buy. The developers would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent advised me not to tell my solicitor about this side-deal as it will impact my loan with Clydesdale. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What does commercial conveyancing in South London cover?
South London conveyancing for business premises incorporates a wide range of services, provided by regulated solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
We are 17 days into a residential purchase having been directed to solicitors by the high street agent to do our conveyancing in South London. I am am extremely disappointed with the quality of service. Can you help me find new solicitors?
They would need to be really poor to suggest diss instructing them. Has the loan offer been issued? If so you must make them aware of the new contact details and get the loan are re-issued. Your new solicitor ideally needs to be on the banks approved list to avoid escalating fees and delays. That should be your starting point. Our search tool should assist you in finding a lender approved lawyer for your conveyancing in South London
We are in the process of purchasing a home in South London. Could the conveyancer keep our purchase price private from the likes of Zoopla. How can this be done?
The Land Registry as a matter of law required to disclose price paid information on the official title for residential properties nationwide which includes premises in South London. The register of ownership is a public document, so HM Land Registry would be breaching their statutory duty if they did not grant access to the register.
You can make a request of HM Land Registry to withhold the price paid entry but the answer will be a No.