My husband and I are getting closer to an exchange on a flat in Wilmslow and my parents have sent the 10% deposit to my solicitor. I am now told that as the deposit has not come from me my property lawyer needs to disclose this to my mortgage company. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I informed the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
The conveyancing practitioner is duty bound to check with mortgage company to make sure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I purchased a freehold property in Wilmslow but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Wilmslow and has limited impact for conveyancing in Wilmslow but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
My lender has recommended a law firm on their panel based in Wilmslow but I would rather use a conveyancing lawyer in Wilmslow or nearer to where I live. Are you able to assist?
Far from all Wilmslow conveyancing firms are listed all lender’s conveyancing panel. Do make the most of our search tool to find a Wilmslow conveyancing solicitor on the on the mortgage company panel.
My wife and I are buying a house in Wilmslow. I might seem paranoid but how we can trust a lawyer? At some point we have to put our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am the single recipient of my late mum's will with all property in now in my sole name, including the house in Wilmslow. Conveyancing formalities meant that the Land Registry date was in September. I want to move. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship will be regarded the same way as if I'd bought the house in September. Will no one buy the property for half a year?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. How practical a view mortgage companies take of it, depend on the lender as this clause is primarily there to capture subsales or the flipping of property.
We expect to receive a AIP from TSB this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do TSB recommend any Wilmslow solicitors on the TSB conveyancing panel, or is it better to go independently?
You will need to appoint Wilmslow solicitors independently although you'll need to choose one on the TSB conveyancing panel. The solicitor represents both you and TSB through the process.
Living abroad I am unable to attend my Wilmslow conveyancing solicitors office to execute documents connected to my conveyancing in Wilmslow – is this a problem?
No. Wilmslow conveyancing lawyers can handle home moves for clients throughout the rest of the country. It is not necessary for you to be able to meet your lawyer in the flesh at a Wilmslow conveyancers office. Almost all conveyancing practitioner can deal with all communications via post, email, telephone and fax.