We are nearing an exchange on a house in Biggleswade and my parents have sent the 10% deposit to my property lawyer. I am now told that as the deposit has not arrived from me my property lawyer needs to disclose this to my mortgage company. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The property lawyer is duty bound to clarify with lender to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
We see that you have a post code search directory listing law firms on the Principality conveyancing panel. Do companies pay you a commission if I retain them for our own conveyancing in Biggleswade?
We are a listing service only for law firms wishing to communicate if they are on the Principality conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Biggleswade.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Biggleswade. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 19/7/2021, the requirements read as follows :
Should commercial conveyancing searches reveal proposed roadworks that may impact a commercial site in Biggleswade?
Its becoming the norm that commercial conveyancing solicitors in Biggleswade will order 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 Biggleswade. The search result provides 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 Biggleswade.
For each commercial conveyancing transaction in Biggleswade 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 may cause delays to Biggleswade commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not ordered for residential conveyancing in Biggleswade.
I am looking for a ground for flat up to £195,000 and identified one near me in Biggleswade I like with a park and railway links in the vicinity, however it only has 61 remaining years left on the lease. I can't really find anything else in Biggleswade suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a mortgage that many years may be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.