My partner and I are only a couple days away from an exchange on a house in Chertsey and my parents have sent the 10% deposit to my lawyer. I am now told that as the deposit has been received from someone other than me my lawyer needs to make a notification to my lender. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the mortgage company about my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
Your solicitor is legally required to check with lender to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front when it comes to conveyancing in Chertsey?
If you are buying a property in Chertsey your solicitor will request that you put them with monies to cover the search fees. Generally this is requested to cover the fees of the Local Authority Search. When the down payment is payable against the total price then this should be asked for shortly ahead of exchange of contracts. The final balance that is needed should be transferred shortly before completion.
We're in Chertsey, FTBs buying with a mortgage (lender is Virgin Money , and our lawyer is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am purchasing my first flat in Chertsey with a loan from Skipton Building Society. The builders refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not to tell my conveyancer about the deal as it may impact my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I opted to have a survey carried out on a house in Chertsey before instructing solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some lenders tend not issue a loan on such a home.
It varies from the lender to lender. Lloyds has different requirements for example to Birmingham Midshires. If you e-mail us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Chertsey. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Chertsey to see if the conveyancing will be more expensive.
My business partner and I are planning to take over a lease of an office on the high street. Can you recommend conveyancers offering no-move-no costs for non-domestic conveyancing in Chertsey for less than £1,200?
We can recommend firms who have specialist knowledge of commercial conveyancing in Chertsey, including the sale and purchase of businesses as well as simply premises. If you are hoping to acquire or lease a shop, pub, restaurant, office, retail premises or a whole business we can find you the right solicitor. As for the costs these will vary based on the structure and nuances of the proposed transaction. Let us have your contact information or telephone us so that we can provide you with comprehensive commercial conveyancing quote.