We are approaching an exchange on a flat in Dalston and my parents have transferred the ten percent deposit to my solicitor. I am now advised that as the deposit has not come from me my conveyancer needs to disclose this to my bank. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your lawyer is obliged to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Finally the sale completed on my house in Dalston last February yet the purchaser is telephoning daily to moan that his conveyancer needs to hear from mine. What should my lawyer have done now that I have sold?
After completion of your house sale your solicitor should forward the transfer documentation and all of the paperwork to the purchaser's solicitors. Depending on the transaction, your conveyancer should also send confirmation that the mortgage has been discharged to the buyers solicitors. There is unlikely to be post completion steps just for conveyancing in Dalston.
About to place an offer on a leasehold property in Dalston. The property agents assure me that it is standard for flats in Dalston to have less than 75 years remaining. I am expecting a loan with Bank of Ireland. Will the property be mortgageable given that the lease has 70 years unexpired.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 16/2/2019 the requirements read as follows :
Have just purchased a probate house at auction in Dalston. Conveyancing is necessary. What is next?
Having legally bound yourself to purchase you now have to hire the services of a conveyancing solicitor quickly as you will have a fast approaching deadline in which to complete the purchase. Every auction property will ordinarily have a bespoke legal set of papers. This will likely include most,if not all of the documents that your solicitor requires. In the case of leasehold property the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You should hand this to your appointed conveyancing solicitor as soon as possible. You also need to ensure that your finances are organised to complete the transaction on the set completion date.
I am due to exchange contracts on my flat. I had a double glazing fitted in April 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Clydesdale are being a right pain. The Dalston solicitor who is on the Clydesdale conveyancing panel is saying indemnity insurance will be fine but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My offer was accepted on an apartment in Dalston on 9/1/2019, valuation was booked 2 days later, received a clean bill of health. Conveyancer retained, so all that was missing was my mortgage offer. Having made daily calls to Clydesdale and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Clydesdale conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Clydesdale to deal with your lawyer's application to be on the Clydesdale conveyancing panel. There's no guarantee that your solicitor will be accepted.
Are there restrictive covenants that are commonly identified during conveyancing in Dalston?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Dalston. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’