My husband and I are nearing an exchange on a flat in Woodhall Spa and my parents have sent the exchange deposit to my property lawyer. I am now informed that as the deposit has not come from me my conveyancing practitioner needs to disclose this to my bank. 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 bank about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
Your property lawyer is legally required to clarify with the bank to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front for conveyancing in Woodhall Spa?
Where you are retaining lawyers for conveyancing in Woodhall Spa your lawyer will request that you place them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. When the deposit is as part of the purchase price then this should be asked for immediately before contracts are exchanged. The closing balance that is needed should be sent to your lawyer a few days ahead of the day of completion.
We are intent on selling our property in Woodhall Spa and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any high street Woodhall Spa lawyer would know this is not the case. It does beg the question why the purchasers used a national conveyancing practice as opposed to a conveyancing solicitor in Woodhall Spa. We have lived in Woodhall Spa for many years we know that this is a non issue. Do we contact our local Authority to get confirmation that the buyers are looking for.
It would appear that you have a conveyancing solicitor already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a simple, no chain conveyancing. Woodhall Spa is where the house is located. What do you suggest?
Flying freeholds in Woodhall Spa are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Woodhall Spa you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Woodhall Spa may ascertain 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.
I am thinking of appointing a conveyancing solicitor in Woodhall Spa for my home move. Can I review a solicitor's record with the profession’s regulator?
Members of the public may see published Solicitor Regulator Association (SRA) determinations arising from investigations from 2008 onwards. Visit Check a solicitor's record. To find details Pre 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The SRA could recorded telephone calls for training purposes.