We are only a couple days away from an exchange on a house in Archway and my mum and dad have sent the exchange deposit to my solicitor. I am now told that as the deposit has been received from someone other than me my conveyancing practitioner needs to make a notification to my lender. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your property lawyer is obliged to check with mortgage company to ensure 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 permit them to, failing which, your lawyer must cease to continue acting.
Can your site be used to find a Conveyancing solicitor in Archway even where I’m not buying or disposing of a house, for instance where I intend to acquire an office in Archway with a mortgage from Britannia?
The service is predominantly there to find residential conveyancing solicitors in Archway but we have set out towards the end of this page a few Archway commercial conveyancing firms. You should make contact with the company directly to see if they can also act for Britannia
My aunt passed away 10 months ago and as sole heir and executor I was left the property in Archway. The house had a small mortgage left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Leeds Building Society, pay off the mortgage. Is this possible?
Given you intend to re-mortgage then Leeds Building Society will insist on your using a conveyancer on the Leeds Building Society 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 Leeds Building Society 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 Leeds Building Society mortgage is registered as a charge at the Land Registry.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Archway is the location of the property. Is there any guidance you can give?
Flying freeholds in Archway are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Archway you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Archway may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My husband and I are four weeks into a leasehold purchase having been directed to solicitors by the high street agent to carry out the conveyancing in Archway. We are not happy. Could you you assist me in finding new conveyancers?
They would need to be very bad to suggest diss instructing them. Has your mortgage been generated? In the event that it has you need to inform them of the replacement conveyancer and ensure the loan are re-sent. Your new solicitor ideally should be on the banks panel to avoid supplemental expenses and complications. That should be your starting point. Our find a solicitor tool will help you find a lender approved lawyer for your conveyancing in Archway