I am nearing an exchange on a house in Stroud and my mum and dad have transferred the 10% deposit to my solicitor. I am now advised that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the lender regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
Your property lawyer is obliged to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Will conveyancers request money on account for my conveyancing in Stroud?
Where you are retaining lawyers for conveyancing in Stroud your lawyer will request that you put them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is as part of the total price then this should be asked for immediately in advance of exchange of contracts. The closing balance that is due should be sent to your lawyer a few days ahead of the completion date.
How can we know in advance if a Stroud conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Stroud obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor handling your conveyancing.
We expect to receive a DIP from Skipton this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Skipton recommend any Stroud solicitors on the Skipton conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Stroud solicitors independently although you'll need to choose one on the Skipton conveyancing panel. The solicitor represents both you and Skipton through the process.
I have decided to exercise my right to buy my property in Stroud off the council. I have a mortgage agreed with Skipton. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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 Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
I am purchasing my first flat in Stroud with a loan from Norwich and Peterborough Building Society. The developers refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not inform my lawyer about this extras as it will impact my loan with the lender. Do I keep my lawyer in the dark?.
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.
How can the Landlord & Tenant Act 1954 affect my commercial premises in Stroud and how can your lawyers assist?
The particular law that you refer to affords security of tenure to business lessees, granting the legal entitlement to apply to court for a renewal lease and remain in occupation at the end of the lease term. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Stroud is one of the numerous locations in which our lawyers have offices
I am a fortnight into a leasehold purchase having been recommend to a firm by the local agent to do our conveyancing in Stroud. I am am starting to be frustrated with the quality of service. Could you help me find new solicitors?
A lawyer would need to be really poor in order to consider replacing them. Has your mortgage offer been sent? If so you will need to make them aware of the replacement lawyer and have the offer are re-sent. Your conveyancer should be on the mortgage company panel to avoid supplemental charges and frustration. So that should be your starting point. Our search tool should help you find a lender approved lawyer for your home move in Stroud