My wife and I are only a couple days away from an exchange on a property in Bromyard and my parents have sent the 10% deposit to my conveyancer. I am now told that as the deposit has not arrived from me my conveyancer needs to disclose this to my lender. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I informed the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
Your property lawyer is duty bound to check with the bank to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your lender if you agree, failing which, your lawyer must cease to continue acting.
We note that you have a search directory identifying firms on the Barclays conveyancing panel. Do firms pay you a referral fee if I retain them for our conveyancing in Bromyard?
We are a listing service only for law firms wishing to communicate if they are on the Barclays conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bromyard.
I need some expedited conveyancing in Bromyard as I am under pressure to exchange contracts in less than 2 weeks. Thankfully I do not need a mortgage. Is it possible to escape the need for conveyancing searches to save money and time?
If.Given you are not obtaining a mortgage you are at liberty not to do searches although no lawyer would suggest that you don't. With lots of history conveyancing in Bromyard the following are examples of what can be revealed and adversely impact future mortgageability: Refused Planning Applications, Outstanding Charges, Overdue Grants, Road Schemes,...
four months have elapsed since my purchase conveyancing in Bromyard took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a flat up to £245,000 and found one close by in Bromyard I like with open areas and railway links in the vicinity, however it's only got 61 remaining years left on the lease. I can't really find anything else in Bromyard for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage that many years will be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.