We are approaching an exchange on a flat in Market Drayton and my parents have sent the exchange deposit to my property lawyer. I am now told that as the deposit has not arrived from me my solicitor needs to disclose this to my lender. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the bank about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
Your solicitor is duty bound to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
We are buying a property and require a conveyancing solicitor in Market Drayton who is on the Kent Reliance conveyancing panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Kent Reliance . We don't recommend any particular firms conducting conveyancing in Market Drayton.
My grandfather passed away last year and as sole heir and executor I was left the house in Market Drayton. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this allowed?
If you intend to refinance then Bank of Ireland will require that you use a conveyancer on the Bank of Ireland conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bank of Ireland conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bank of Ireland mortgage is registered as a charge at the Land Registry.
I am planning to move home in May. Will my conveyancing solicitor communicate with the removal company on the completion day. As an aside, can you suggest a removal company in Market Drayton. Conveyancing firm was found before I stumbled across this website.
On the day of completion you can collect the house keys from your selling agent however this should only take place when the vendors lawyers confirm to the agent that they acknowledge receipt of the completion payment and the keys can be released. You will need to tell the removal men that you are ready to move in. We do not recommend a specific removal company but can assist you in finding a residential property solicitor in Market Drayton or a legal practice that specialises in conveyancing in Market Drayton.
Is it the case that all Market Drayton solicitor practices on the Nationwide conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Nationwide conveyancing panel they would need to be governed by the SRA. Some banks do allow licenced conveyancers on their panel in which case such practice would be overseen by the CLC.
I am expecting a OIP from Co-operative this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Co-operative recommend any Market Drayton solicitors on the Co-operative conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Market Drayton solicitors independently although you'll need to choose one on the Co-operative conveyancing panel. The solicitor represents both you and Co-operative through the process.
My wife and I are intent on selling our property in Market Drayton and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A high street Market Drayton conveyancer would know that there is no such problem. For the life of me I don't know why the buyers instructed an online conveyancing outfit as opposed to a conveyancing solicitor in Market Drayton. Having lived in Market Drayton for 5 years we know of no issue. Do we get in touch with our local Authority to seek clarification need.
It would appear that you have a conveyancing lawyer already. Are they able to advise? 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 sickness)
How does conveyancing in Market Drayton differ for newly converted properties?
Most buyers of new build premises in Market Drayton approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Market Drayton typically acquire the real estate, 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 conveyancers 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 Market Drayton or who has acted in the same development.