We are nearing an exchange on a property in Chipping Barnet and my parents have sent the ten percent deposit to my conveyancing practitioner. I am now told that as the deposit has been received from someone other than me my conveyancer needs to disclose this to my mortgage company. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
The lawyer is legally required 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 notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front for my conveyancing in Chipping Barnet?
Where you are retaining lawyers for conveyancing in Chipping Barnet your lawyer will request that you to provide them with funds to cover the search fees. Generally this is called for to cover the fees of the conveyancing searches. If any deposit is payable against the purchase price then this will be needed immediately ahead of contracts are exchanged. The final balance that is due should be transferred a few days prior to the completion date.
I am selling our home in Chipping Barnet and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any local conveyancer would know this is not the case. It does beg the question why the purchasers used a factory type conveyancing firm as opposed to a conveyancing solicitor in Chipping Barnet. Having lived in Chipping Barnet for many years we know that this is a non issue. Should we get in touch with our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing lawyer already. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Should I instruct a Chipping Barnet conveyancing lawyer in close proximity to the house I am purchasing? We have a good friend who can carry out the conveyancing but her office is over three hundred kilometers drive away.
The primary upside of using a local Chipping Barnet conveyancing practice is that you can pop in to execute paperwork, present your identification documents and pester them if necessary. They will also have local intelligence which is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and they were happy that must surpass using an unfamiliar Chipping Barnet conveyancing solicitor just because they are based in the area.
We have appointed a Chipping Barnet conveyancing solicitor for our house purchase (FTB’s) and have spotted in the Ts and Cs that they are not governed by the FCA. Should I be worried or is that standard with property lawyer?
We can't see why they should be. Most solicitor don't lend money. You should check that they are regulated by the Solicitors Regulation Authority, who set specific obligations regulating monies deposited on client account.