I am approaching an exchange on a property in Covent Garden and my parents have transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my conveyancer needs to disclose this 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 home loan, so is it really necessary for him to raise this?
Your conveyancing practitioner is duty bound to clarify with the bank to make sure that they know that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Do I have to attend the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Covent Garden so that I can pop in to their offices when needed.
Most approved lawyers for lenders conduct all of the work via the post, internet or over phone calls. This means that they can undertake the legal work for your home move no matter where you live in England or Wales. However you can check if you have the option of visiting the offices of your conveyancing lawyer if needed.
Are all Covent Garden Conveyancing Quality Solicitors on the Aldermore conveyancing panel?
Some major lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
How can we know in advance if a Covent Garden conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in Covent Garden obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the solicitor conducting your conveyancing.
It is unclear whether my bank requires a lease extension. I have telephoned my Covent Garden building society branch on numerous occasions and was told it does not affect the mortgage offer and they would lend. My Covent Garden conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they would not lend based on their published requirements. I have no idea who is right.
As long as the property lawyer is on the lender panel, they must adhere to the CML Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I need some quick conveyancing in Covent Garden as I am faced with an ultimatum to sign on the dotted line inside one month. A home loan is not required. Is it possible to avoid the conveyancing searches to save fees and time?
As you are not obtaining a home loan you have the choice not to do searches although no lawyer would recommend that you don't. With lots of history conveyancing in Covent Garden the following are instances of what can appear and therefore affect future saleability: Enforcement Actions, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
I have been sourcing a conveyancing practitioner in Covent Garden for my home move. Is it possible to see a firm’s record with the profession’s regulator?
Anyone may review published Solicitor Regulator Association (SRA) decisions stemming from investigations commenced on or after 1 January 2008. Visit Check a solicitor's record. For details Pre 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The SRA may recorded call for training reasons.