I am getting closer to an exchange on a flat in Watnall and my mum and dad have transferred the 10% deposit to my conveyancer. I am now informed that as the deposit has not come from me my conveyancer needs to make a notification to my lender. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
The conveyancing practitioner is duty bound to check with lender to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front for my conveyancing in Watnall?
If you are buying a property in Watnall your solicitor will request that you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the down payment is payable against the purchase price then this will be asked for shortly in advance of contracts are exchanged. The closing balance that is needed will be payable a few days prior to the completion date.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Watnall. My lender is Nationwide Building Society
Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 24/4/2025, the requirements read as follows :
Should our lawyer be making enquiries about flooding during the conveyancing in Watnall.
The risk of flooding is if increasing concern for lawyers dealing with homes in Watnall. Some people will purchase a house in Watnall, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, but there are a various searches that may be initiated by the purchaser or by their conveyancers which will give them a better appreciation of the risks in Watnall. The standard information given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to determine whether the property has historically flooded. In the event that the premises has been flooded in past and is not disclosed by the seller, then a buyer may commence a compensation claim as a result of such an incorrect answer. A buyer’s conveyancers should also order an enviro search. This should higlight if there is a recorded flood risk. If so, further inquiries will need to be conducted.
I bought my house on 8 April and my personal details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in Watnall advises it will be dealt with in less than a month. Are transfers in Watnall uniquely lengthy to register?
There is nothing unique about conveyancing in Watnall registration formalities. Rather than based on location, timescales can adjust subject to the party submitting the application, whether there are errors and if the Land registry need to notify any interested parties. As of today in the region of three quarters of submission are fully dealt with within two weeks but occasionally there can be protracted delays. Registration occurs once the purchaser is living at the property thus registration formalities is not always an essential issue yet if it is urgent that the the registration takes place urgently then you or your solicitor could speak with the land registry and explain the circumstances.
About to purchase a new build flat in Watnall. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Watnall
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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? Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?