My husband and I are approaching an exchange on a flat in Kirkwhelpington and my mum and dad have sent the ten percent deposit to my property lawyer. I am now advised that as the deposit has been sent from someone other than me my property lawyer needs to make a notification to my mortgage company. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I advised the bank regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The lawyer is legally required to clarify with the bank to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
We're in Kirkwhelpington, First timers buying with a mortgage (lender is Co-operative , and our lawyer is on the Co-operative conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Co-operative conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have been told that property searches are the number one cause of hinderance in Kirkwhelpington conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Local searches are not likely to feature in any delay in conveyancing in Kirkwhelpington.
How does conveyancing in Kirkwhelpington differ for newly converted properties?
Most buyers of new build property in Kirkwhelpington contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is finished. This is because new home sellers in Kirkwhelpington tend to 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 conveyancers 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 Kirkwhelpington or who has acted in the same development.
How difficult is it to transfer to a new firm as I have to instruct a firm on the Clydesdale conveyancing list. I was using a high street conveyancing solicitor in Kirkwhelpington round the corner but she is not approved by Clydesdale
It would be our pleasure to help you select a conveyancing solicitor in Kirkwhelpington on the Clydesdale panel. Please note that the property lawyers that we work with do not pay us a referral fee if you instruct them and are under regulation of the SRA who oversee all conveyancing solicitors in Kirkwhelpington. In utilising the find a conveyancing solicitor tool on this page, you can contrast fees for conveyancing solicitors in Kirkwhelpington and throughout England and Wales.