I am getting closer to an exchange on a property in Preston and my parents have sent the 10% deposit to my conveyancing practitioner. I am now informed that as the deposit has been received from someone other than me my lawyer needs to disclose this to my bank. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The 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 funds. Your solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
My wife and I are buying a apartment in Preston. It might be a silly question but how we can trust a lawyer? At some point we will need to deposit money into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am due to exchange contracts on my flat. I had a double glazing fitted in March 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Aldermore are being problematic. The Preston solicitor who is on the Aldermore conveyancing panel is recommending indemnity insurance as a solution but Aldermore are requiring a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Co-operative have agreed my mortgage in principle, my bid on a house in Preston has been agreed to, now what?
The property agent will wish to be informed of your solicitor's details (be sure the lawyers are on the lender’s panel). Telephone Co-operative or your broker and complete any outstanding paperwork. Co-operative will instruct a valuer who will get in contact with the selling agent or owners to arrange a time for the valuation to occur. Once conducted (assuming no problems) it takes about ten days for the mortgage offer to be issued. Co-operative will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Preston.
Have purchased a a detached house in Preston , What is the estimated time for the Land Registry to register my title? My Preston conveyancing solicitor works at snail pace, so I want to be sure the post completion formalities are dealt with.
As far as conveyancing in Preston registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timescales can differ depending on the party submitting the application, whether it is in order and whether the Land registry must send notices to any interested parties. As of today approximately 80% of submission are fully addressed in less than three weeks but occasionally there can be protracted delays. Registration takes place once the purchaser has moved in to the property thus an expedited registration is not usually primary concern yet where there is a degree of urgency associated with the registration then you or your solicitor can speak with the land registry and explain the circumstances.
Taking into account that I am about to spend hundreds of thousands of pounds on a property in Preston I would like to talk to a lawyer about myhouse move in advance of appointing the firm. Is this something that you can arrange?
This is something that we recommend - it is our preference to talk to you we do not take any clients on without you liaising with the conveyancer who will be doing your property ownership legalities in Preston.There is no ‘factory style conveyancing’ - each client is an important individual, not a file reference. The practices that we put you in touch with believe that the figure you are quoted for your conveyancing in Preston should be the amount on the final invoice that you end up paying.
I need to retain a conveyancing solicitor for remortgage conveyancing in Preston. I've discover a web site which looks to be the ideal solution If there is a chance to get all the legals done via email that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?