I am buying property in Maryport. My Solicitor is not listed on the bank approved panel. Am I still permitted to retain my Maryport conveyancing solicitor notwithstanding that they are excluded from the bank approved list?
You must instruct a property lawyer to deal with the legal work required if you need a loan to buy your property. The property lawyer will carry out all the appropriate investigations on the property, make sure that you’re registered as proprietor and ensure that all the required mortgage paperwork is in place. You may instruct a Maryport solicitor of your choice. However, if the conveyancer appointed is not a member of the mortgage company conveyancing panel supplemental charges will be levied as separate legal representation will be need by the bank. Lender panel applications may be submitted, so if your conveyancer has not historically applied for membership they should take the chance to apply.
We are nearing an exchange on a property in Maryport and my mum and dad have transferred the exchange deposit to my conveyancing practitioner. I am now advised that as the deposit has been sent from someone other than me my conveyancer needs to make a notification to my mortgage company. Apparently, in also acting for the bank he must inform 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 mortgage, so is it really necessary for this now to hold matters up?
Your lawyer is legally required to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Having sold my house in Maryport last March but the buyer keeps calling every few hours complaining that her lawyer needs to hear from mylawyer. What are the post completion sale formalities now that I have sold?
After completion of your sale your lawyer should deliver the transfer documentation and all additional paperwork to the buyer’s lawyers. If applicable, your lawyer should also send confirmation that the legal charge in favour of the lender has been redeemed to the purchasers lawyers. There are no post completion steps peculiar conveyancing in Maryport.
How can the Landlord & Tenant Act 1954 affect my business offices in Maryport and how can your lawyers assist?
The particular law that you refer to gives a safeguard to business tenants, giving them the right to apply to court for a renewal lease and remain in occupation when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and handle your commercial conveyancing in Maryport
I am expecting to exchange on the purchase a house in Maryport but as a result of damage from the recent storms I have negotiated reparation from the owner of £3k in the form of a reduction in the price. This was going to be dealt with as part of the conveyancing process but the bank will not agree to this. Should they have been approached?
Your lawyer that is on the bank conveyancing panel is duty bound to disclose to the lender of any variations to the sale price. If you did not allow your solicitor to disclose the reduction to your bank then they would need to discontinue representing you and the bank.