I am approaching an exchange on a property in Stourbridge and my parents have sent the 10% deposit to my conveyancing practitioner. I am now told that as the deposit has not arrived from me my conveyancing practitioner 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 not just from me. I advised the lender about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
Your conveyancer is obliged to clarify with mortgage company 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 bank if you agree, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front for conveyancing in Stourbridge?
If you are buying a property in Stourbridge your lawyer will ask you place them with funds to cover the the cost of the conveyancing searches. Ordinarily this is needed to cover the fees of the Local Authority Search. If any deposit is as part of the total price then this should be asked for shortly prior to contracts are exchanged. The final balance that is due will be payable a couple of days prior to the completion date.
is it true that all Stourbridge solicitors on the Principality conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Principality approved list of solicitors they would need to be overseen by the SRA. Some banks do allow licenced conveyancers on their panel and in such a situation the firms would be overseen by the Council of Licensed Conveyancers.
I am due to exchange contracts on my house. I had a double glazing fitted in March 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Leeds Building Society are being difficult. The Stourbridge solicitor who is on the Leeds Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Leeds Building Society are insisting on a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Lloyds have agreed my mortgage in principle, my offer on a house in Stourbridge has been accepted, what are the next steps?
Your estate agent will need to be advised as to your property lawyer's details (ensure that the conveyancing practitioners are on the lender’s panel). Telephone Lloyds or your financial adviser and finish off any relevant forms. Lloyds will instruct a valuer who will get in touch with the estate agent or seller to schedule a time for the valuation to occur. Once conducted (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Lloyds will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Stourbridge.
The estate agent has sent us the confirmation of our purchase of a new build flat in Stourbridge. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Stourbridge
-
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are architect prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
Taking into account that I will soon part with hundreds of thousands of pounds on 3 bedroom house in Stourbridge I wish to have a conversation with the solicitor regarding thehouse move ahead of instructing the firm. Can this be arranged?
Absolutely - we would be happy to talk to you we do not take any clients on without you first talking to the lawyer due to be doing your property ownership legalities in Stourbridge.There is no ‘factory style conveyancing’ - each client is an important individual, not a matter reference. The practices that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Stourbridge should be the figure that you end up paying.
I pay a maintenance contribution for my flat in Stourbridge. Due to losing my job and personal issues I fell into arrears with remittance. The managing agents agreed a clearance plan but there is still a couple of left to be paid.
I now wish to dispose of the property and I am concerned this will hold me back if I have to discharge the amount due in advance. I'd like to sell up and then pay them back with the completion monies - is this possible?
The property lawyer conducting your Stourbridge sale should be able to negotiate with the appropriate parties, with a new to seeing if they would accept payment from sale proceeds. This is indicative of why it might be good to instruct a conveyancer in Stourbridge as they are likely to have an open line of communication with the parties.