I am nearing an exchange on a property in Stockport and my mum and dad have sent the ten percent deposit to my solicitor. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my bank. 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 disclosed to the bank about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The lawyer is legally required to check with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your lender if you agree, failing which, your lawyer must cease to continue acting.
We are purchasing a house in Stockport. I might seem paranoid but how we can trust a conveyancer? At some point we will need to send our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am planning to move home in October. Will my conveyancing solicitor liaise with the removal company on the day of completion. Incidentally, can you recommend a removal company in Stockport. Conveyancing firm was found before I stumbled across your page.
On the day of completion you can collect the keys from the selling agent however this can only be done when the sellers lawyers inform the agent that they acknowledge receipt of the completion payment and the keys can be passed over. You will need to advise the removal company that you are ready to move in. We do not recommend a particular removal company but can assist you in locating a conveyancing in Stockport or a legal practice that specialises in conveyancing in Stockport.
I have a mortgage with Barclays for my property in Stockport. Conveyancing has been completed some time ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Barclays?
Barclays must be informed of your intention before renting your property as this is likely to be a breach of Barclays’s mortgage conditions. It may be that Barclays will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. It should not be necessary to do this via a Barclays conveyancing panel firm.
I moved into my home on 14 February and my personal details is yet to be on the land registry website. Should I be concerned? My conveyancing solicitor in Stockport expressed confidence that it would be dealt with in a couple of weeks. Are transfers in Stockport uniquely lengthy to register?
There is nothing unique about conveyancing in Stockport registration formalities. As opposed to being determined by geographic area, timeframes can adjust subject to who lodges the application, whether it is in order and if the Land registry need to notify any interested persons or bodies. At present roughly three quarters of such applications are fully addressed within two weeks but occasionally there can be extensive hold-ups. Registration occurs after the purchaser is living at the property therefore post completion formalities is not usually top priority but where there is a degree of urgency associated with the registration then you or your conveyancer must speak with the land registry and explain the circumstances.
I am looking for a flat up to £235,500 and found one round the corner in Stockport I like with a park and railway links in the vicinity, however it only has 61 remaining years left on the lease. There is not much else in Stockport in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan that many years will be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
My husband and I are first time buyers - agreed a price, yet the estate agent told us that the vendor will only go ahead if we use their recommended conveyancers as they want an ‘expedited deal’. We would rather use a family solicitor with experience of conveyancing in Stockport
We suspect that the seller is unaware of this requirement. Should the vendor require ‘a quick sale', alienating a genuine purchaser is is going to put the whole deal at risk. Speak to the owners direct and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you are going to use your preferred Stockport conveyancing firm - not the ones that will earn the estate agent a introducer fee or hit his conveyancing targets set by corporate headquarters.
The conveyancing solicitors undertaking our conveyancing in Stockport has forwarded documents to review that state the land is unregistered with epitome documents. Why is the property not registred at HMLR?
Although the vast majorities of properties in Stockport are now registered with HM Land Registry there are still a few that remain unregistered. Any property in Stockport that has been transferred since the late 1980’s will have been registered at the Land Registry under the compulsory ‘first registration’ scheme. However, if a Stockport property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Many Stockport conveyancing lawyers will be familiar with such matters but in the event that uncertainty reigns the prevailing advice presently appears to be for the current owners to register the title first and then deal with the transfer to the buyer - this will have a knock on effect to cause a significant delay.