My wife and I are only a couple days away from an exchange on a flat in St Columb and my mum and dad have transferred the exchange deposit to my conveyancing practitioner. I am now told that as the deposit has been sent from someone other than me my solicitor 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 bank concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
The solicitor is obliged to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front when it comes to conveyancing in St Columb?
If you are buying a property in St Columb your lawyer will request that you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the down payment is as part of the total price then this will be needed immediately before contracts are exchanged. The final balance that is due should be sent to your lawyer shortly before completion.
We are purchasing a house and the conveyancer has referenced Chancel Repair to which the house may be obligated to pay given it’s proximity to the area of such a church. He has recommended insurance. Is this really appropriate for conveyancing in St Columb
Unless a previous acquisition of the house took place post 12 October 2013 you may take it that conveyancing practitioners conducting conveyancing in St Columb to remain encouraging a chancel search and or chancel repair liability insurance.
I'm purchasing my first flat in St Columb with a loan from Platform Home Loans Ltd. The builders refused to move on the amount so I negotiated £7000 of extras instead. The estate agent told me not to tell my conveyancer about the side-deal as it will impact 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.
I am planning to acquire a property and require a conveyancing solicitor in St Columb who is on the lender conveyancing panel. Can you recommend a St Columb or local St Columb conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the bank who conduct conveyancing in St Columb. We dont recommend any particular solicitor.