My husband and I are approaching an exchange on a house in Bideford and my parents have sent the exchange deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my lawyer needs to disclose this to my lender. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
The solicitor is obliged to check with the bank to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
My mortgage company has recommended a law firm on their panel based in Bideford but I would rather use a conveyancing lawyer in Bideford or nearer to where I live. Are you able to help?
Not all Bideford conveyancing practices are approved and listed on all lender’s conveyancing panel. Please make use of the above find an approved solicitor tool to find a Bideford conveyancing conveyancer on the on the mortgage company panel.
four months have elapsed following my purchase conveyancing in Bideford took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a ground for flat up to £235,500 and identified one close by in Bideford I like with open areas and railway links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Bideford in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage the shortness of the lease will likely be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
Hoping to buy a property located in Bideford and I am already nervous. I couldn't find anything specific about Bideford. Conveyancing will be needed in due course but do you know about the Bideford area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Bideford. In the meantime here are some basic statistics that we found
My husband and I are 3 weeks into a freehold purchase having been recommend to solicitors by the estate agent to carry out the conveyancing in Bideford. We are not happy. Could you help me find new lawyers?
They would have to be very poor in order to consider replacing them. Has your loan offer been sent? If so you will need to inform them of the new contact details and ensure the mortgage documents are re-issued. Your conveyancer should be on the mortgage company panel to avoid added costs and frustration. So that should be your first question of the new lawyers. The find a solicitor tool will assist you in finding a bank approved solicitor for your home move in Bideford