We are only a couple days away from an exchange on a house in Haywards Heath and my parents have sent the exchange deposit to my conveyancer. I am now informed that as the deposit has not come from me my conveyancer needs to make a notification to my lender. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
The conveyancing practitioner is duty bound to check with the bank to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Please explain the implications if my lawyer’s firm is suspended from the Leeds Building Society Solicitor panel ahead of completing my conveyancing in Haywards Heath?
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.
It has been three months since my purchase conveyancing in Haywards Heath took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I opted to have a survey done on a house in Haywards Heath ahead of appointing conveyancers. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some banks may refuse to issue a mortgage on this type of home.
It varies from the lender to lender. Lloyds has different requirements from Halifax. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Haywards Heath. Conveyancing may be slightly more expensive based on your lender's requirements.
What does commercial conveyancing in Haywards Heath cover?
Non domestic conveyancing in Haywards Heath covers a wide range of guidance, supplied by qualified solicitors, relating to business premises. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.