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Recently asked questions about conveyancing in Millom

We are getting closer to an exchange on a property in Millom and my mum and dad have transferred the 10% deposit to my property lawyer. I am now informed that as the deposit has not come from me my solicitor needs to disclose this to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the bank regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?

Your conveyancer is duty bound to check with mortgage company to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.

Why do I have to pay up front for conveyancing in Millom?

Where you are retaining lawyers for conveyancing in Millom your solicitor will ask you place them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. If any deposit is payable against the total price then this will be needed shortly in advance of exchange of contracts. Any further balance that is due should be sent to your lawyer shortly before completion.

After looking at online forums for a high-quality lawyer in Millom, many advise that I must instruct a CQS assured lawyer. What is CQS?

The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in buying or selling property, trusted by some of the UK's biggest banks. Four years ago the Conveyancing Quality Scheme was officially recognised by the Legal Ombudsman. CQS is not a scheme offered by the Society for Licensed Conveyancers. Millom is one of the many areas of the UK where there are CQS lawyers.

The estate agent has sent us the confirmation of our purchase of a new build apartment in Millom. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Millom

    The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.

Due to the input of my in-laws I had a survey completed on a property in Millom ahead of appointing conveyancers. I have been told that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies may refuse to issue a loan on this type of house.

It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. If you call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Millom. Conveyancing may be slightly more expensive based on your lender's requirements.

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Find out more about how flying freehold can affect your the value of a property.