We are approaching an exchange on a property in Chalfont St Giles and my parents have sent the 10% deposit to my property lawyer. I am now informed that as the deposit has not come from me my property lawyer needs to disclose this to my lender. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The property lawyer is duty bound to check with mortgage company 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 bank if you permit them to, failing which, your lawyer must cease to continue acting.
Is there a reason why leasehold purchase conveyancing in Chalfont St Giles is more expensive?
Chalfont St Giles leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I had intended to instruct a conveyancing solicitor in Chalfont St Giles for our house move. Our broker has since notified us that our bank Leeds Building Society won't deal with them. Surely this is unfair competition?
Mortgage Companies ordinarily restrict either the category or the volume of conveyancing practices on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must not be a sole practitioner. In addition to restricting the profile of firm, some have decided to limit the number of solicitor practices they permit to act for them. Be aware that Leeds Building Society have no responsibility for the quality of advice provided by any member of Leeds Building Society Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels since 2008 even though there are mixed opinions about the extent of solicitor engagement in some of that fraud. Figures from the Land Registry reveal that plenty of law firms, including some in or near Chalfont St Giles only perform a couple conveyances a year.
I'm purchasing my first flat in Chalfont St Giles with a mortgage from Barclays Direct. The sellers would not budge the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not reveal to my lawyer about the side-deal as it could affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My brother has recommend that I instruct his conveyancing solicitors in Chalfont St Giles. Should I choose my own property lawyer?
Much as we are happy to recommend a Chalfont St Giles conveyancing lawyer the best way to choose a conveyancing practitioner is to seek feedback from friends or relatives who have experience in using the solicitor that you are contemplating using.
I am thinking of instructing a web based solicitor as opposed to a Chalfont St Giles conveyancing practice. Am I making a mistake?
Advantages do exist in having the option pop in to a local Chalfont St Giles conveyancing solicitor for example
- signing documents and and when necessary
- sometimes being able to see someone face-to-face can make a huge difference, particularly for more complex house moves
- the ability to raise concerns if matters are not going as expected
When comparing quotes, look carefully for hidden extras. Most decent Chalfont St Giles high street solicitors give an all-inclusive figure. Many online agents appear to offer cheap prices, but have burried 'extras' in the small print.