My wife and I are nearing an exchange on a flat in High Wycombe and my parents have transferred the exchange deposit to my conveyancing practitioner. I am now advised that as the deposit has not arrived from me my lawyer needs to disclose this to my bank. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I advised the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your property lawyer is duty bound to check with the bank to make sure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
When it comes to mortgage companies such as Nottingham, do High Wycombe conveyancing practitioners have to pay an annual charge to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
Can I be sure that the High Wycombe conveyancing solicitor on the Santander panel is any good?
When it comes to conveyancing in High Wycombe obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer carrying out your transaction.
We are getting a further advance on our mortgage from Clydesdale as we wish to carry out renovations to our home in High Wycombe. Are we obliged to choose a high street High Wycombe solicitor on the Clydesdale conveyancing panel to handle the legals?
Clydesdale do not ordinarily instruct a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale panel.
I moved into my house on 6 August and the transaction details is yet to be registered. Any reason for this? My conveyancing solicitor in High Wycombe said it would be concluded in less than a month. Are transfers in High Wycombe uniquely lengthy to register?
As far as conveyancing in High Wycombe registration is no quicker or slower than the rest of England and Wales. Rather than based on location, timescales can differ depending on who lodges the application, whether it is in order and whether the Land registry have to notify any third parties. As of today in the region of 80% of such applications are completed in less than three weeks but some can be subject to protracted hold-ups. Historically registration is effected once the new owner is living at the property thus 'speed' is not always primary concern yet if it is urgent that the the registration takes place urgently then you or your solicitor could contact the land registry and explain the circumstances.
How does conveyancing in High Wycombe differ for new build properties?
Most buyers of new build residence in High Wycombe come to us having been asked by the seller to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in High Wycombe typically purchase the land, 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 conveyancing solicitors 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 High Wycombe or who has acted in the same development.
I am on look out for some leasehold conveyancing in High Wycombe. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in High Wycombe - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
High Wycombe Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing
How much is the service charge and ground rent on the apartment? The prefered form of lease arrangement is if the freehold interest is in the ownership of the leaseholders. In this scenario the lessees benefit from control and although a managing agent is often retained where it is bigger than a house conversion, the managing agent is directed by the tenants. How long is the Lease?