My wife and I are getting closer to an exchange on a house in Cumbria and my parents have sent the 10% deposit to my solicitor. I am now advised that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the bank regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
The solicitor is obliged to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
It is a dozen years since I bought my property in Cumbria. Conveyancing solicitors have now been instructed on the sale but I am unable to find my title deeds. Will this jeopardise the sale?
Don’t worry too much. First there is a chance that the deeds will be with your mortgage company or they could stored with the lawyers who acted in your purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. The vast majority of conveyancing in Cumbria relates to registered property but in the rare situation where your property is not registered it adds to the complexity but is resolvable.
I am the single beneficiary of my late father’s estate with all property in now in my sole name, including the house in Cumbria. Conveyancing formalities meant that the Land Registry date was in June. I plan to dispose of the house. I do know about the Mortgage Lenders 6 month 'rule', meaning my property ownership could be regarded the same way as if I'd bought the house in June. Do I have to wait 6 months to sell?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. Some banks would take a practical view as this provision is chiefly there to pick up on the purchase and immediately sell or the quick reselling of properties.
Can you point me to a directory of Aldermore panel solicitors in Cumbria on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings open the public on the web. Where you are seeking to appoint a Cumbria conveyancing practitioner on the Aldermore please make the most of our facility.
I have a mortgage with Yorkshire BS for my property in Cumbria. Conveyancing has been completed months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Yorkshire BS?
You must advise Yorkshire BS before renting your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Yorkshire BS directly. You need not do this via a Yorkshire BS conveyancing panel firm.
My wife and I are downsizing from our house in Cumbria and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any high street Cumbria conveyancer would know this is not the case. For the life of me I don't know why the buyers instructed an online conveyancing practice rather than a conveyancing solicitor in Cumbria. Having lived in Cumbria for three years we know of no issue. Should we contact our local Authority to get confirmation need.
It would appear that you have a conveyancing solicitor already. What do they say? You must enquire of 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 life insurance to cover that same ailment)
We are about to purchasing a house in Cumbria. Can our lawyer have the amount we are are purchasing for private from sites such as Rightmove. How do I make sure this is not revealed?
HM Land Registry as a matter of law obliged to disclose price sold data on the official title for domestic properties nationwide including homes in Cumbria. The register of title is a public document, so the Land Registry would be breaching their statutory duty if they failed to grant access to the register.
In essence you can ask the Land Registry to withhold the price paid entry but the answer will be in the negative.