I am getting closer to an exchange on a house in Hoole and my mum and dad have transferred the ten percent deposit to my solicitor. I am now advised that as the deposit has been sent from someone other than me my conveyancing practitioner needs to make a notification 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 informed the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
The property lawyer is obliged to clarify with lender to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
My Conveyancer in Hoole is not listed on the Accord Mortgages Ltd Solicitor Panel. Is it possible for me to use my prefered solicitor even though they are not on the Accord Mortgages Ltd approved list?
The limited options available to you here include:
- Carry on with your existing Hoole lawyers but Accord Mortgages Ltd will need to instruct a lawyer on their panel. This will result in additional overall legal fees as well as result in delays.
- Find an alternative practitioner to to deal with the conveyancing, obviously checking they are Persuade your conveyancer to use their best endeavours to join the Accord Mortgages Ltd conveyancing panel
What is the difference between a licensed conveyancer and conveyancing solicitor in Hoole
There are many registered licenced Conveyancers in Hoole and Solicitor practices in Hoole to choose from We would stress that the two are regulated professionals specialising in the legal aspects of transferring property. Both can deal with other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
My wife and I have organised the release of further funds on our home loan from Nationwide as we intend to conduct renovations to our house in Hoole. Are we obliged to appoint a bricks and mortar Hoole solicitor on the Nationwide conveyancing panel to deal with the paperwork?
Nationwide would not normally instruct a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide list.
It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Hoole bank branch on various occasions and was informed it wasn't an issue and they will lend. My Hoole conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
The conveyancing practitioner must comply with the Council of Mortgage Lenders’ Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I'm remortgaging my primary home to a buy to let mortgage with Halifax and I will use the ballance of the raised equity as a down payment on another property. The area we are talking about is Hoole. Will your solicitors be able to act for both sets of mortgage companies and link together the transactions?
Make use of our search tool on this site to be sure that the conveyancers are on the appropriate lender panels. Having checked that they are the conveyancer will be able to tie up the two deals but you should have a chat with you lawyer and communicate your desired outcome and requirements.
We are in the process of selling our flat in Hoole. Conveyancing solicitors are doing their job but we are being charged an extortionate amount by the freeholder. So far we have forked out £225 for a leasehold management information and then a further £134.40 for responses to questions raised by the buyers property lawyer.
Neither you or your solicitor will have any control over the level of the fee for this information but the average costs for the information for Hoole leasehold property is £355. When it comes to Hoole conveyancing transactions it is standard for the vendor to pay for these charges. The freeholder or their agents are not duty bound to address these questions although many will be willing to do so - albeit often at exorbitant prices out of proportion to the work involved. Unfortunately there is no statute that mandates fixed charges for administrative tasks. Neither is there any statutory time frame by which they are required to supply the information.