My partner and I are approaching an exchange on a flat in Beddington South and my mum and dad have transferred the 10% deposit to my property lawyer. I am now told that as the deposit has been received from someone other than me my solicitor needs to make a notification to my mortgage company. Apparently, 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 mortgage company about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
Your property lawyer is legally required to check with lender to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
My home in Beddington South is up for sale and I have a purchaser. Does my lawyer need to be on the Nottingham conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Nottingham conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
A relative suggested that if I am purchasing in Beddington South I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Beddington South conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Beddington South around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Beddington South Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data regarding Beddington South.
Are there restrictive covenants that are commonly identified as part of conveyancing in Beddington South?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Beddington South. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the encouragement of my in-laws I had a survey completed on a house in Beddington South ahead of appointing solicitors. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some banks may not grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. If you call us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Beddington South. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Beddington South to see if the conveyancing will be more expensive.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the lender conveyancing panel. My lawyer has said that they are on the bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the lender solicitor panel.