We are nearing an exchange on a property in Cambridge and my mum and dad have transferred the ten percent deposit to my conveyancing practitioner. I am now informed that as the deposit has been received from someone other than me my 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 not just from me. I disclosed to the bank concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The conveyancing practitioner is legally required to check with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Are the BSA intent on creating a online directory to to identify solicitors on the Melton Mowbray Building Society conveyancing panel for example in Cambridge?
Lexsure has not been advised of any plans on the part of the BSA to develop such a tool.
five months have elapsed following my purchase conveyancing in Cambridge completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. 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 residence 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.
In what way does the Landlord & Tenant Act 1954 impact my business premises in Cambridge and how can you help?
The particular law that you refer to provides a safeguard to business leaseholders, granting the right to make a request to court for a new tenancy and continue in occupation when the lease reaches an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Cambridge is one of the numerous areas of the UK in which our lawyers are based
I am looking for a conveyancing lawyer in Cambridge for my house move. Is there any facility to check a solicitor's complaints history with the legal regulator?
One can read published Solicitor Regulator Association (SRA) decisions arising from inquisitions commenced on or after 1 January 2008. Go to Check a solicitor's record. For details Pre 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The SRA could monitor telephone calls for training reasons.
Why do Cambridge conveyancing fees are higher for leasehold and freehold properties?
There is always more work needed in leasehold conveyancing. Cambridge has many leasehold properties. There is more hours involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.