My husband and I are approaching an exchange on a house in Aldgate and my mum and dad have sent the 10% deposit to my property lawyer. I am now advised that as the deposit has been received from someone other than me my conveyancer needs to make a notification to my bank. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to 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 conveyancer is obliged to check with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your lender if you agree, failing which, your lawyer must cease to continue acting.

What is the difference between a licensed conveyancer and conveyancing solicitor in Aldgate

Two types of professional can perform conveyancing in Aldgate namely licenced conveyancers or solicitors. The two can handle conveyancing services that you need to complete the disposal or purchase of property. Both are duty bound to conduct Aldgate conveyancing to the same quality and guidelines so you can be sure that your conveyancing will be professionally carried out and that all necessary steps should be accurately adhered to.

I am being advised by my conveyancer that missing deeds insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Aldgate?

The right level of missing deeds indemnity insurance should be dictated by who your lender. It would differ for example between National Westminster Bank and Bank of Scotland. Conveyancing solicitors as opposed to members of the public take out such insurances.

Are all Aldgate Conveyancing Quality Solicitors on the UBS conveyancing panel?

It is true that some banks and building societies now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.

I require fast conveyancing in Aldgate as I am under a deadline to sign on the dotted line inside one month. Luckily I do not need a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?

As you are are a cash purchaser you are at free not to do searches although no lawyer would suggest that you don't. With plenty of history conveyancing in Aldgate the following are instances of what can arise and adversely affect market value: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...

I'm buying my first flat in Aldgate with the aid of help to buy. The builders refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not to tell my solicitor about this deal as it will adversely affect my loan with Chelsea Building Society. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I am looking for a flat up to £235,500 and found one round the corner in Aldgate I like with open areas and station in the vicinity, the downside is that it only has 49 remaining years left on the lease. There is not much else in Aldgate suitable, so just wondered if I would be making a mistake purchasing a short lease?

Should you need a mortgage that many years may be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you may ask them to start the process of the extension and then assign 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 matter.