My partner and I are only a couple days away from an exchange on a house in Waltham and my mum and dad have transferred the ten percent deposit to my conveyancer. I am now informed that as the deposit has not come from me my solicitor needs to disclose this to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your conveyancer is obliged to clarify with mortgage company to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Our bank has recommended solicitors on their panel based in Waltham but I would rather choose a conveyancing lawyer in Waltham or nearer to where I live. Are you able to help?
Far from all Waltham conveyancing practices are approved and listed on all lender’s conveyancing panel. Use the above search tool to find a Waltham conveyancing conveyancer on the on the bank panel.
3 months have elapsed since my purchase conveyancing in Waltham completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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 residence 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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Waltham is where the house is located. Can you offer any advice?
Flying freeholds in Waltham are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Waltham you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Waltham may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am buying a house and need a conveyancing solicitor in Waltham who is on the lender approved panel. Could you point me in the right direction as regards a 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 mortgage company who carry out conveyancing in Waltham. We dont recommend any particular firm.