My partner and I are getting closer to an exchange on a house in Tedburn St Mary and my parents have transferred the 10% deposit to my solicitor. I am now told that as the deposit has not arrived from me my property lawyer needs to make a notification to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I advised the mortgage company about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
The conveyancing practitioner 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 disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front for my conveyancing in Tedburn St Mary?
Where you are retaining lawyers for conveyancing in Tedburn St Mary your lawyer will request that you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is as part of the sale price then this will be required shortly in advance of contracts are exchanged. The closing balance that is due should be sent to your lawyer shortly before completion.
I own a semi-detached Edwardian house in Tedburn St Mary. Conveyancing solicitor acted for me and HSBC Bank. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the exact same address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tedburn St Mary and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with your conveyancing lawyer who conducted the purchase.
Due to the input of my in-laws I had a survey completed on a property in Tedburn St Mary prior to appointing lawyers. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some lenders will not give a loan on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Tedburn St Mary. Conveyancing will be smoother if you use a solicitor in Tedburn St Mary especially if they are acquainted with such properties in Tedburn St Mary.
How simple is it to swap conveyancer as I need to select one who is on the Halifax conveyancing panel. I instructed a family conveyancing solicitor in Tedburn St Mary round the corner but he is not accepted by Halifax
It would be our pleasure to assist you select a conveyancing solicitor in Tedburn St Mary on the Halifax panel. Please note that the conveyancers that we work with do not pay us commission if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in Tedburn St Mary. Using the find a conveyancing solicitor tool on this website, you can scrutinise costs for conveyancing solicitors in Tedburn St Mary and beyond.