We are getting closer to an exchange on a house in Harrogate and my mum and dad have transferred the ten percent deposit to my solicitor. I am now told that as the deposit has not arrived from me my conveyancer needs to make a notification to my bank. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I disclosed to the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The conveyancer is legally required to clarify with lender to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only disclose this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Is there a reason why leasehold purchase conveyancing in Harrogate costs more?
Harrogate leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Please explain the implications if my lawyer’s firm is suspended from the Yorkshire BS Solicitor panel ahead of completing my conveyancing in Harrogate?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
How does conveyancing in Harrogate differ for newly converted properties?
Most buyers of new build premises in Harrogate approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is built. This is because new home sellers in Harrogate typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Harrogate or who has acted in the same development.
My husband and I are first time buyers - agreed a price, but the selling agent has warned us that the owners will only issue a contract if we instruct their recommended solicitors as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a family solicitor with experience of conveyancing in Harrogate
It is unlikely the owners are driving this. If they desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is likely to cause more damage than good. Bypass the agents and go straight to the sellers and make sure they comprehend that (a)you are serious buyers (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)however you will continue to instruct your preferred Harrogate conveyancing solicitors - not the ones that will give the estate agent a introducer fee or meet his conveyancing targets demanded by senior management.