I am getting closer to an exchange on a flat in Swaffham and my parents have transferred the exchange deposit to my property lawyer. I am now informed that as the deposit has been sent from someone other than me my property lawyer needs to make a notification to my lender. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
The solicitor is duty bound to clarify with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
This question may be naive but I am new to the home buying as a 1st time buyer of a garden flat in Swaffham. Do I collect the keys to the house on completion from my conveyancer? If so, I will use a local conveyancing solicitor in Swaffham?
On the day of completion you will not be required to go to the conveyancers office in Swaffham. Conveyancing lawyers for you will electronically transfer the purchase money to the owner’s lawyers, and shortly after the monies have arrived, you should be called to collect the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
I have been advised by my conveyancer that breach of easement insurance is necessary on my purchase. What is the level of cover for Swaffham conveyancing?
The appropriate level of breach of easement indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such insurances.
How can we know in advance if a Swaffham conveyancing solicitor on the Barclays panel is any good?
When it comes to conveyancing in Swaffham obtaining recommendations is a good start. 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 recommend that you speak with the lawyer carrying out your transaction.
Despite weeks of looking the Title Certificate and documents to my home can not be found. The lawyers who dealt with the conveyancing in Swaffham 10 years ago have long since closed. What do I do?
Assuming the title is registered the information relating to your ownership will be held by HMLR under a Title Number. It is possible to conduct a search at the Land Registry, find your house and obtain up to date copies of the property title for a small fee. If the title is Leasehold then the Land Registry will in most cases retain a certified duplicate of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
I'm buying a new build house in Swaffham with a mortgage from Barclays Direct. The developers would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not disclose to my conveyancer about this deal as it could put at risk my loan with the bank. 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 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.
I opted to have a survey done on a house in Swaffham ahead of appointing conveyancers. I have been informed that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies tend not grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Swaffham. Conveyancing will be smoother if you use a solicitor in Swaffham especially if they are acquainted with such properties in Swaffham.
My husband and I are novice buyers - had an offer accepted, but the estate agent has warned us that the seller will only issue a contract if we appoint the agent's recommended conveyancers as they need a ‘quick sale’. My instinct tells me that we should use a high street solicitor with experience of conveyancing in Swaffham
It is highly unlikely the vendors are driving this. Should the seller require ‘a quick sale', alienating a motivated purchaser is not the way to achieve this. Avoid the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you will continue to appoint your own,trusted Swaffham conveyancing firm - as opposed tothose that will provide the negotiator at the agency a kickback or achieve conveyancing figures set by senior management.