I am approaching an exchange on a house in Southall and my parents have transferred the exchange deposit to my conveyancer. I am now informed that as the deposit has not come from me my solicitor needs to disclose this to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?
The conveyancer is legally required to check with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front when it comes to conveyancing in Southall?
Where you are retaining lawyers for conveyancing in Southall your lawyer will request that you place them with funds to cover the search fees. Ordinarily this is requested to cover the fees of the conveyancing searches. When the deposit is payable against the total price then this will be needed immediately in advance of exchange of contracts. The closing balance that is due should be sent to your lawyer a couple of days ahead of the completion date.
I need some fast conveyancing in Southall as I have an ultimatum to exchange contracts within one month. Luckily I do not require a mortgage. Is it possible to escape the need for conveyancing searches to save money and time?
If.Given you are not obtaining a home loan you have the choice not to do searches although no law firm would recommend that you don't. With plenty of history conveyancing in Southall the following are examples of issues that can appear and adversely affect the marketability of the property: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Unadopted Roads,...
I used Action Conveyancing several years ago for my conveyancing in Southall. I now require my file but the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Southall of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Am I best advised to use a Southall conveyancing solicitor based in the location that I am purchasing? We have a good friend who can perform the legal work but his firm is located a couple of hundredkilometers drive away.
The primary upside of using a local Southall conveyancing firm is that you can visit the firm to sign paperwork, present your identification documents and apply pressure on them where appropriate. They will also have local insight which is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and in the main were content that must surpass using an unknown Southall conveyancing solicitor solely due to them being Southall based.
My conveyancers in Southall have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the bank. Is it case that being on the bank conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the bank Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.