My husband and I are only a couple days away from an exchange on a property in Aston on Trent and my parents have transferred the exchange deposit to my solicitor. I am now advised that as the deposit has not come from me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
Your lawyer is obliged to clarify with lender to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
The Aston on Trent conveyancing lawyers that I appointed last week on my house acquisition in Aston on Trent have suddenly shut down. I only went with them because I needed a firm on the Skipton conveyancing panel and my previous Aston on Trent lawyer was not. I paid them 275 plus VAT on account. What do I do now?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. 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 Skipton 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 should be in a position to assist.
I recently had an offer accepted on a house in Aston on Trent. My mortgage broker recommended their conveyancers. I paid an on account payment of £200. Soon after, the conveyancer contacted me to say that they were not on the Aldermore conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Aldermore panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am due to exchange contracts on my flat. I had a double glazing fitted in December 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Nottingham are being problematic. The Aston on Trent solicitor who is on the Nottingham conveyancing panel is saying indemnity insurance will be fine but Nottingham are requiring a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase flat in Aston on Trent. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Aston on Trent conveyancer is on the Co-operative conveyancing panel.
Do commercial conveyancing searches disclose proposed roadworks that may affect a commercial site in Aston on Trent?
Its becoming the norm that commercial conveyancing solicitors in Aston on Trent will execute a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Aston on Trent. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Aston on Trent.
For every commercial conveyancing transaction in Aston on Trent it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could cause delays to Aston on Trent commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Aston on Trent.
I have been on the look out for a ground for flat up to £245,000 and found one round the corner in Aston on Trent I like with amenity areas and transport links nearby, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Aston on Trent suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a home loan the remaining unexpired lease term may be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.