My partner and I are nearing an exchange on a property in Downham and my parents have transferred the 10% deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my conveyancer needs to disclose this to my lender. I am advised that, in also acting for the lender he must inform 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 necessary for him to raise this?
Your lawyer is duty bound to check with mortgage company to make sure that they are aware 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.
At what point will exchange of contracts occur in sale conveyancing in Downham and do I need to be at the conveyancers branch?
If you are in close proximity to our conveyancing solicitors in Downham you are invited in to sign contracts. However, the firms we work with supply countrywide coverage for conveyancing and provide just as diligent and professional a job for you when dealing with you by post or email. The executing of the purchase agreement is not when everything is set in stone. A signed contract is just a prerequisite for the firm to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Downham)to be in the office at the appropriate time.
I am considering applying for a Bank of Ireland mortgage for purchase of a newly converted (under development) in Downham with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Bank of Ireland ?
In theory, you could use a solicitor that is not on the Bank of Ireland conveyancing panel, but Bank of Ireland would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Downham?
There are two types of lawyers who can do conveyancing in Downham namely licenced conveyancers or solicitors. The two can provide conveyancing services that required to complete the sale or purchase of property. They are both obliged to carry out Downham conveyancing on similar standards and guidelines so you can be safe in the knowledge that your conveyancing will be properly administered and that all requirements and steps will be appropriately followed.
I'm at the point of looking at houses in Downham and I am about to put in an offer. Is it too early to have a solicitor in place? I am planning to take a mortgage with Clydesdale.
You should start requesting conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. Given that you are getting a mortgage with Clydesdale, make sure you remember to check that your lawyer is on the Clydesdale conveyancing panel.
I was told three weeks ago that my mortgage has been agreed to by Santander. Is it usual for Santander to only issue the offer once my solicitor in Downham is approved on their conveyancing panel? Santander have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Santander to deal with your lawyer's application to be on the Santander conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am thinking of appointing a conveyancing solicitor in Downham for my sale. Is there any facility to review a solicitor's record with the legal regulator?
One may review presented Solicitor Regulator Association (SRA) decisions resulting from investigations from 2008 onwards. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The regulator sometimes recorded call for training reasons.