My partner and I are only a couple days away from an exchange on a property in Stanwick and my mum and dad have sent the exchange deposit to my property lawyer. I am now informed that as the deposit has been sent from someone other than me my solicitor needs to disclose this to my mortgage company. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
The conveyancer is legally required to check with mortgage company to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
The Stanwick conveyancing solicitors that I recently instructed on my house acquisition in Stanwick have without warning shut down. I chose them because I needed a solicitor on the HSBC conveyancing panel and my preferred Stanwick lawyer was not. I sent them a cheque for £250 in advance. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the HSBC conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
We are getting a further advance on our mortgage from Aldermore as we wish to conduct a loft conversion to our home in Stanwick. Do we need to select a bricks and mortar Stanwick solicitor on the Aldermore conveyancing panel to handle the paperwork?
Aldermore do not ordinarily appoint firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore list.
I am currently in the process of buying my council flat in Stanwick. I have a mortgage offer with Yorkshire BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
It is unclear whether my lender requires a lease extension. I have called my Stanwick bank branch on a couple of occasions and was told they are content with the situation and they will lend. My Stanwick conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend based on their published requirements. Who do I believe?
As long as the solicitor is on the mortgage company panel, they must follow the Council of Mortgage Lenders’ Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I used Arc property Solicitors a few years past for my conveyancing in Stanwick. I now require my papers however cannot find the solicitor. What do I do?
You should call 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 Stanwick of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm buying a new build house in Stanwick with the aid of help to buy. The builders refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not to tell my conveyancer about this extras as it may adversely affect my mortgage with the lender. Do I keep my lawyer in the dark?.
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 UK Finance website. UK Finance 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.
In what way does the Landlord & Tenant Act 1954 impact my commercial property in Stanwick and how can you help?
The particular law that you refer to provides protection to commercial lessees, giving them the right to apply to court for a new lease and continue in occupation at the end of the lease term. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and help with commercial conveyancing in Stanwick