My wife and I are nearing an exchange on a house in East Grinstead and my mum and dad have sent the exchange deposit to my conveyancer. I am now advised that as the deposit has not arrived from me my conveyancing practitioner needs to make a notification to my mortgage company. I am advised that, 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 advised the lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancing practitioner 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 funds. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I have been told that property searches are the number one reason for obstruction in East Grinstead conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not figure within the common causes of delays in the conveyancing process. Local searches are not likely to feature in any slowing down conveyancing in East Grinstead.
I have been on the look out for a ground for flat up to £235,500 and identified one round the corner in East Grinstead I like with amenity areas and station in the vicinity, however it's only got 51 years unexpired on the lease. I can't really find anything else in East Grinstead in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you require a home loan the remaining unexpired lease term may be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
Am I right to be concerned by brokers that I am dealing with are recommending a factory type conveyancing firm as opposed to a High Street East Grinstead conveyancing company?
As is the case with lots of service providers, often recommendations from connections can be worth their weight in gold. But there are numerous players in a conveyancing deal; estate agents, financial adviser and banks might all recommend solicitors to retain. On occasion the solicitors might be known to one of the organisations as experts in their field, but occasionally there behind the scenes financial incentive behind the endorsement. You have the right to appoint your preferred conveyancer. However, bear in mind that many lenders have an approved list of lawyers you must use for the lender related work in your transaction.
I am looking for a conveyancing solicitor in East Grinstead for my home move. Is it possible to review a firm’s record with the profession’s regulator?
You can find presented Solicitor Regulator Association (SRA) determinations arising from investigations commenced on or after Jan 2008. Go to Check a solicitor's record. For information Pre 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The regulator could recorded telephone calls for training purposes.