My partner and I are getting closer to an exchange on a property in Cheshire and my parents have sent the 10% deposit to my conveyancing practitioner. I am now told that as the deposit has been received from someone other than me my lawyer needs to disclose this to my bank. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The solicitor is duty bound 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 notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
We're in Cheshire, First time buyers buying with a mortgage (lender is Leeds Building Society , and our solicitor is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor 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.
Will commercial conveyancing searches disclose impending roadworks that may impact a commercial land in Cheshire?
Many commercial conveyancing solicitors in Cheshire will conduct a SiteSolutions Highways report as it reduces the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Cheshire. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Cheshire.
For each commercial conveyancing transaction in Cheshire it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can result in delays to Cheshire commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Cheshire.
I opted to have a survey done on a property in Cheshire ahead of retaining conveyancers. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies may refuse to grant a mortgage on such a home.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you contact us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Cheshire. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it possible to transfer to a new conveyancer as I have to choose a firm on the Accord Mortgages Ltd conveyancing list. I was using a high street conveyancing solicitor in Cheshire round the corner but he is not approved by Accord Mortgages Ltd
We will our best to assist in finding you a conveyancing solicitor in Cheshire on the Accord Mortgages Ltd panel. Please note that the property lawyers that we list do not pay us commission if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in Cheshire. Using the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Cheshire.
Are you able to explain what options are open to me if my Cheshire conveyancing searches shows adverse entries?
On the whole, most issues arising from Cheshire conveyancing search responses can be handled before completion or indemnity insurance could possibly be put on cover. You need to remember that regardless of the fact that you are buying the property and may be content to live with the search results, your mortgage lender may not, and ultimately they have the final say.