My husband and I are getting closer to an exchange on a property in Callerton and my parents have transferred the 10% deposit to my property lawyer. I am now advised that as the deposit has been received from someone other than me my solicitor needs to disclose this to my bank. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
The property lawyer is legally required to check with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your bank if you agree, failing which, your lawyer must cease to continue acting.
What does my ID and proof of funds have anything to do with my conveyancing in Callerton? What am I being asked for?
It is indeed that case that these requests have nothing to do with conveyancing in Callerton. Nowadays you will not be able to proceed with any conveyancing transaction in the absence submitting proof of your identity. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are supplying your driving licence as evidence of identification it needs to be both the paper section as well as the photo card part, one is not satisfactory without the other.
Evidence of the source of monies is necessary under Money Laundering Regulations. Please do not be offended when when this is requested of you as your lawyer must have this information on file. Your Callerton conveyancing lawyer will need to see evidence of proof of funds before they are able to accept any monies from you into their client account and they should also ask additional queries regarding the origin of funds.
My uncle passed away six months ago and as sole heir and executor I was left the property in Callerton. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this possible?
Where you plan 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.
We expect to receive a OIP from Barclays 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 Barclays recommend any Callerton solicitors on the Barclays conveyancing panel, or is it better to go independently?
You will need to appoint Callerton solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.
Completion of my purchase has taken place for my property in Callerton. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I am due to exchange contracts on my flat. I had a double glazing fitted in March 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Virgin Money are being pedantic. The Callerton solicitor who is on the Virgin Money conveyancing panel is saying indemnity insurance will be fine but Virgin Money are insisting on a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I decided to have a survey carried out on a house in Callerton ahead of retaining solicitors. I have been told that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies will not grant a mortgage on such a property.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Callerton. Conveyancing will be smoother if you use a solicitor in Callerton especially if they are accustomed to such properties in Callerton.
I need to instruct a conveyancing solicitor for sale conveyancing in Callerton. I've discover a web site which appears to be the perfect solution If it is possible to get all formalities completed via web that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?