My partner and I are nearing an exchange on a property in Steyning and my mum and dad have sent the 10% deposit to my conveyancing practitioner. I am now told that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my bank. 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 advised the bank concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
The solicitor is legally required to check with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
My solicitor has informed me that lack of planning permission insurance is necessary on my purchase. What is the level of cover for Steyning conveyancing?
The right level of lack of planning permission indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and Bank of Scotland. Conveyancing lawyers as opposed to members of the public take out such insurances.
My fiancee and I are spending time viewing houses in Steyning and I am now considering a potential offer. Is it premature to have a solicitor in place? I am planning to take a home loan with Clydesdale.
It would be wise to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are obtaining a mortgage with Clydesdale, ask your prospective lawyers if they are on the Clydesdale conveyancing panel otherwise they can't do the mortgage legal work.
I have today made my last payment due on my mortgage with Nottingham. I assume I don't need a Steyning property lawyer on the Nottingham panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
I have recentlydiscovered that Wolstenholmes have closed. They conducted my conveyancing in Steyning for a purchase of a freehold house 12 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?
The easiest method to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Steyning conveyancing specialists.
I'm buying my first flat in Steyning with the aid of help to buy. The sellers refused to move on the amount so I negotiated 6k of extras instead. The sale representative advised me not reveal to my conveyancer about the extras as it could jeopardize my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Due to the advice of my in-laws I had a survey completed on a property in Steyning prior to retaining lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some mortgage companies will refuse to grant a mortgage on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. If you e-mail us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Steyning. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Steyning to see if the conveyancing will be more expensive.
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