We are nearing an exchange on a flat in Droitwich Spa and my parents have transferred the 10% deposit to my conveyancer. I am now advised that as the deposit has been received from someone other than me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
Your property lawyer is duty bound to check with mortgage company to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
We note that you have a post code search directory identifying solicitors on the UBS conveyancing panel. Do companies pay you a commission if I retain them for our own conveyancing in Droitwich Spa?
We are a listing service only for law firms wishing to communicate if they are on the UBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Droitwich Spa.
Is it necessary during the course of the conveyancing process to attend the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Droitwich Spa so that I can attend their offices if necessary.
These days approved lawyers for banks carry out all of the communications via Royal Mail, internet or over the phone. This enables them to carry out the conveyancing transaction no matter where you live in the country. That being said you should see if you can still book an appointment to visit conveyancing lawyer if you prefer.
Should my conveyancer be asking questions regarding flooding during the conveyancing in Droitwich Spa.
Flooding is a growing risk for conveyancers carrying out conveyancing in Droitwich Spa. There are those who acquire a property in Droitwich Spa, fully expectant that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, however there are a number of searches that may be undertaken by the purchaser or on a buyer’s behalf which should figure out the risks in Droitwich Spa. The conventional set of completed inquiry forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the vendor to discover whether the premises has historically flooded. If flooding has previously occurred and is not disclosed by the vendor, then a buyer could issue a legal claim for losses as a result of such an inaccurate response. The purchaser’s solicitors should also conduct an environmental report. This will higlight whether there is a recorded flood risk. If so, further investigations should be carried out.
I'm buying a new build house in Droitwich Spa with the aid of help to buy. The developers would not reduce the price so I negotiated £7000 of additionals instead. The sale representative suggested that I not disclose to my conveyancer about this extras as it may jeopardize my mortgage with Coventry Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My wife and I purchased a leasehold house in Droitwich Spa. Conveyancing and Chelsea Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Droitwich Spa who acted for me is not around. Any advice?
First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Droitwich Spa conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Droitwich Spa Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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Who are the managing agents? The prefered form of lease structure is a share of the freehold. In this arrangement the leaseholders enjoy being in charge if their destiny and although a managing agent is often retained if the building is bigger than a house conversion, the managing agent retained by the leaseholders. How much is the service charge and ground rent on the flat?