I am getting closer to an exchange on a flat in Staffordshire and my mum and dad have sent the 10% deposit to my conveyancer. I am now told that as the deposit has not arrived from me my conveyancing practitioner needs to make a notification to my mortgage company. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the lender regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The solicitor is legally required to check with mortgage company to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Should my lawyer be raising questions concerning flooding during the conveyancing in Staffordshire.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Staffordshire. Some people will acquire a house in Staffordshire, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, however there are a numerous searches that can be carried out by the buyer or on a buyer’s behalf which can figure out the risks in Staffordshire. The standard information supplied to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the seller to determine if the property has historically flooded. If flooding has previously occurred which is not revealed by the seller, then a purchaser may commence a legal claim for losses as a result of such an inaccurate reply. The buyer’s conveyancers will also commission an enviro search. This should indicate if there is any known flood risk. If so, additional investigations will need to be conducted.
I have justdiscovered that Wolstenholmes have closed. They carried out my conveyancing in Staffordshire for a purchase of a freehold house 9 months ago. How can I establish that my home is in my name in the name of the former proprietor?
The quickest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Staffordshire conveyancing specialists.
How does conveyancing in Staffordshire differ for new build properties?
Most buyers of new build premises in Staffordshire come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Staffordshire typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Staffordshire or who has acted in the same development.
How up-to-date is your database of lawyers on the lender conveyancing panel in Staffordshire? Do the lenders send you an updated list?
Staffordshire firms and firms conducting conveyancing in Staffordshire themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the bank directly.