My wife and I are approaching an exchange on a flat in Ringwood and my parents have transferred the 10% deposit to my solicitor. I am now advised that as the deposit has been received from someone other than me my conveyancer needs to make a notification to my mortgage company. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the lender about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?

The conveyancer is obliged to check with the bank to make sure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.

Will my conveyancing lawyers need to check that the building insurance when buying a house in Ringwood. My lender is Virgin

Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 19/4/2024, the requirements read as follows :

3 months have gone by following my purchase conveyancing in Ringwood concluded. I have checked the Land Registry website which shows that I paid £150,000 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 property 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 purchasing my first flat in Ringwood with a mortgage from Norwich and Peterborough Building Society. The builders would not budge the price so I negotiated 6k of additionals instead. The house builders rep told me not inform my solicitor about the extras as it could affect my loan with the lender. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Can you offer any advice when it comes to appointing a Ringwood conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Ringwood conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Ringwood conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:

What volume of lease extensions have they completed in Ringwood in the last 12 months? If the firm is not ALEP accredited then why not?

Ringwood Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing

Are any of leasehold owners in arrears of their service charge liability? Best to be warned whether redecorating or some other significant cost is anticipated that will be shared between the leaseholders and could well dramatically increase the the service fees or necessitate a specific payment. Who are the managing agents?