We are getting closer to an exchange on a property in Waltham Forest and my mum and dad have sent the 10% deposit to my solicitor. I am now informed that as the deposit has not arrived from me my lawyer needs to make a notification 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 not just from me. I advised the bank concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The property lawyer is duty bound to clarify with mortgage company to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
The Waltham Forest conveyancing firm that just started acting on my purchase in Waltham Forest have without warning closed. They were on acting for me because I had to have a lawyer on the Kent Reliance conveyancing panel and my preferred Waltham Forest lawyer was not. I gave my credit card details for them to take £195 for searches. What do I do now?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Kent Reliance conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
I am intent on selling our home in Waltham Forest and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. A local lawyer would know that there is no such problem. For the life of me I don't know why the buyers used a web based conveyancing firm as opposed to a conveyancing solicitor in Waltham Forest. Having lived in Waltham Forest for 4 years we know that this is a non issue. Is it a good idea to contact our local Authority to get clarification that the buyers are looking for.
It would appear that you have a conveyancing firm currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I have todaybeen informed that Wolstenholmes have been shut down. They conducted my conveyancing in Waltham Forest for a purchase of a leasehold apartment 12 months ago. How can I be sure that the property is registered correctly in the name of the previous owner?
The quickest way to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Waltham Forest conveyancing specialists.
Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Waltham Forest I like with a park and transport links in the vicinity, the downside is that it's only got 51 years on the lease. There is not much else in Waltham Forest for this price, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
My brother-in-law has suggested I instruct a conveyancing solicitor in Waltham Forest. I need to find out if they are on the bank's conveyancing panel. Can you assist?
One option is to phone your conveyancer to check if they are on the bank's approved list. If that does not help get in touch with us and we can investigate and revert. If they are not on the conveyancing panel we can certainly arrange a specialist conveyancing solicitor in Waltham Forest on the panel for your lender.