We hired a high street firm for our conveyancing in Bramford yesterday. Going through the Ts and Cs I notewe are responsible for costs even if the dealdoes not proceed. Would I be best advised to use a web based conveyancing brokerage who offer no completion no cost conveyancing in Bramford?
Generally there is a compromise along the lines that if "No Completion No Fee" is advertised then the conveyancing charges will tend to be be uplifted to neutralise those cases that abort. Also remember that such offerings generally do not cover outlay e.g. Bramford conveyancing search charges.
We are getting closer to an exchange on a property in Bramford and my mum and dad have transferred the 10% deposit to my solicitor. I am now advised that as the deposit has not come from me my conveyancing practitioner needs to make a notification to my mortgage company. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I disclosed to the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
The lawyer is duty bound to clarify with mortgage company to make sure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Bramford. My lender is Bank of Ireland
Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 30/4/2024, the requirements read as follows :
I purchased a semi-detached Edwardian house in Bramford. Conveyancing lawyer acted for me and Barclays . I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bramford and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing practitioner who completed the work.
I opted to have a survey carried out on a house in Bramford prior to appointing conveyancers. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some banks will not issue a loan on this type of home.
It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. If you call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bramford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bramford to see if the conveyancing costs will increase in light of this.