My husband and I are approaching an exchange on a flat in Warminster and my parents have sent the ten percent deposit to my solicitor. I am now informed that as the deposit has not come from me my solicitor needs to disclose this to my mortgage company. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the lender regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancer is obliged to clarify with lender to ensure that they are aware 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.
We are planning to purchase with Coventry BS. We have called around locally yet am struggling to find a Warminster conveyancing firm on the Coventry BS panel. Please you assist?
You should make the most of the search tool on this site. Pick the lender and type Warminster or your location and you will discover numerous solicitors based in Warminster or near you.
Do commercial conveyancing searches reveal planned roadworks that could impact a commercial site in Warminster?
Its becoming the norm that commercial conveyancing solicitors in Warminster will perform a SiteSolutions Highways report as it reduces the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Warminster. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Warminster.
For every commercial conveyancing transaction in Warminster it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Warminster commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Warminster.
How does conveyancing in Warminster differ for newly converted properties?
Most buyers of new build residence in Warminster contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Warminster usually buy the land, 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 property lawyers 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 Warminster or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Warminster is where the house is located. What do you suggest?
Flying freeholds in Warminster are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Warminster you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Warminster 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 property.