My partner and I are only a couple days away from an exchange on a house in Neath Abbey and my parents have transferred the 10% deposit to my conveyancer. I am now advised that as the deposit has not come from me my conveyancer needs to make a notification to my lender. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
Your conveyancing practitioner is legally required to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Completed the sale of my flat in Neath Abbey last August yet the purchaser is Skype messaging every few hours to moan that his conveyancer needs to hear from myconveyancer. What should my lawyer have done now that I have sold?
Post completion of your disposal your conveyancer should forward the transfer deeds and all additional paperwork to the purchaser's solicitors. Where relevant, your lawyer must also evidence that the home loan has been paid off to the purchasers conveyancers. There is unlikely to be post completion steps unique to conveyancing in Neath Abbey.
I have been recommended a conveyancing solicitor in Neath Abbey. I need to find out if they are accepted on the Leeds Building Society approved list of lawyers. Could you assist?
You should contact your solicitor and ask them whether they are on the lender panel. Otherwise you should call Leeds Building Society who may be able to confirm.
It has been three months since my purchase conveyancing in Neath Abbey concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a ground for flat up to £195,000 and found one round the corner in Neath Abbey I like with open areas and station in the vicinity, the downside is that it only has 52 years on the lease. I can't really find anything else in Neath Abbey in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan the shortness of the lease may be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.