My husband and I are nearing an exchange on a house in Wolsingham and my mum and dad have transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not arrived from me my property lawyer needs to disclose this to my mortgage company. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The property lawyer is obliged to clarify 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 notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
We see that you have a search directory identifying solicitors on the Yorkshire BS conveyancing panel. Do companies pay you a referral fee if I instruct them for our conveyancing in Wolsingham?
We are a listing service only for law firms wishing to communicate if they are on the Yorkshire BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Wolsingham.
My aunt passed away 10 months ago and as sole heir and executor I was left the house in Wolsingham. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Yorkshire BS, pay off the mortgage. Is this possible?
Where you intend to re-mortgage then Yorkshire BS will require that you use a conveyancer on the Yorkshire BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Yorkshire BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Yorkshire BS mortgage is registered as a charge at the Land Registry.
When it comes to lenders such as Nottingham, do Wolsingham property lawyers face a yearly amount to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
We previously chose solicitors based in Wolsingham on the Skipton solicitor approved list. They are now charging me a further amount for the legal aspects of the Skipton mortgage. Is this a supplemental conveyancing fee specified by Skipton?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your lawyer is entitled to charge a fee for this. This charge is not dictated by Skipton but by your Wolsingham lawyer. Numerous firms on the Skipton panel will levy an ‘acting for lender’ fee but some practices incorporate it on their overall fee.
We have a mortgage agreed in principle with HSBC. Wolsingham conveyancing lawyers have been selected. How long does it take for HSBC to forward the offer to the conveyancer?
Some lenders take longer than others. Have HSBC done the survey? Have you advised HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
What can a local search tell me concerning the house we're purchasing in Wolsingham?
Wolsingham conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search company for example Searchflow The local search is essential in every Wolsingham conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search should provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
I have been on the look out for a leasehold apartment up to £245,000 and found one close by in Wolsingham I like with a park and railway links nearby, however it's only got 49 years unexpired on the lease. I can't really find anything else in Wolsingham suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage the shortness of the lease will likely be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.