My partner and I are nearing an exchange on a property in Waltham Abbey and my mum and dad have sent the exchange deposit to my lawyer. I am now advised that as the deposit has not come from me my solicitor needs to disclose this to my mortgage company. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your solicitor is duty bound to clarify with the bank to make sure that they know that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Should our conveyancer be making enquiries regarding flooding as part of the conveyancing in Waltham Abbey.
The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Waltham Abbey. There are those who buy a property in Waltham Abbey, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, but there are a number of checks that may be undertaken by the buyer or on a buyer’s behalf which should figure out the risks in Waltham Abbey. The standard property information forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the owner to find out whether the premises has ever been flooded. In the event that the residence has been flooded in past which is not notified by the vendor, then a buyer could bring a claim for damages resulting from an misleading response. A buyer’s conveyancers may also conduct an environmental search. This will higlight if there is a recorded flood risk. If so, more detailed inquiries should be conducted.
The deeds to our house are lost. The lawyers who did the conveyancing in Waltham Abbey 4 years ago are no longer around. What are my options?
You no longer need to have the physical official documentation to evidence that you own the land or premises, given that the Land Registry hold details of all registered land or property electronically.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Waltham Abbey is where the house is located. What do you suggest?
Flying freeholds in Waltham Abbey are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Waltham Abbey you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Waltham Abbey may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am looking to sell my house. My previous conveyancers have shut. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Waltham Abbey if that makes a difference.
Please use our search tool to help you choose a solicitor for your conveyancing in Waltham Abbey. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.
My partner and I are acquiring a garden flat in Waltham Abbey. When we first instructed conveyancing practitioner, we were told they were on all mainstream mortgage company panels. Our mortgage broker contacted us just now to say that they are not on the Nottingham approved list. If it turns out to be true, what should we do? Should we just pick a different property lawyer that is on their panel or should we pay for separate representation, with Nottingham appointing their own approved property lawyer.
When purchasing a property with mortgage finance it is conventional for the purchaser’s solicitors to also act for the mortgage company. In order to act for a bank or building society a property lawyer has to be on that lender's conveyancing panel. An application has to be made by the conveyancer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the property lawyer has to fulfill. Some banks now require their panel firms to be part of the Law Society’s Conveyancing Accreditation Scheme. Your lawyer should call Nottingham to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on Nottingham's conveyancing panel as you are at liberty to use your preferred Waltham Abbey lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another conveyancing practitioner into the mix.