We are nearing an exchange on a property in Clayhall and my parents have transferred the exchange deposit to my conveyancer. I am now informed that as the deposit has not come from me my property lawyer needs to disclose this to my lender. Apparently, 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 advised the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?
Your solicitor is obliged to check with the bank to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
How can we know in advance if a Clayhall conveyancing solicitor on the RBS panel is any good?
When it comes to conveyancing in Clayhall seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer carrying out your conveyancing.
My wife and I have arranged a further advance on our home loan from Nottingham as we wish to carry out alterations to our home in Clayhall. Are we obliged to choose a bricks and mortar Clayhall solicitor on the Nottingham conveyancing panel to deal with the paperwork?
Nottingham would not normally appoint firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham panel.
I have decided to exercise my right to buy my property in Clayhall off the council. I have a mortgage offer with RBS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with RBS, you will need to appoint a solicitor on the RBS conveyancing panel.
Should our conveyancer be raising questions about flooding as part of the conveyancing in Clayhall.
Flooding is a growing risk for conveyancers specialising in conveyancing in Clayhall. Some people will acquire a property in Clayhall, completely expectant that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to give advice on flood risk, however there are a various searches that can be undertaken by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Clayhall. The conventional set of information supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the owner to discover whether the property has ever been flooded. In the event that flooding has previously occurred which is not disclosed by the vendor, then a purchaser could bring a legal claim for losses as a result of such an inaccurate reply. The purchaser’s conveyancers should also commission an environmental report. This will disclose whether there is a recorded flood risk. If so, additional investigations will need to be made.
I'm buying a new build house in Clayhall with a mortgage from Leeds Building Society. The builders refused to budge the amount so I negotiated 6k of fixtures and fittings instead. The sale representative told me not inform my lawyer about the extras as it could impact my mortgage with the bank. 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.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Clayhall is where the house is located. Can you shed any light on this issue?
Flying freeholds in Clayhall are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Clayhall you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Clayhall may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am a fortnight into a leasehold purchase having been referred to a firm by the local agent to handle our conveyancing in Clayhall. I am not happy. Can you help me find new conveyancers?
They would need to be really poor in order to consider changing them. Has the loan offer been issued? In the event that it has you will need to advise them of the new contact details and ensure the mortgage documents are issued to the new lawyers. Your new solicitor ideally should be on the mortgage company panel to avoid added costs and delays. That should be your starting point. Our find a solicitor tool should assist you in finding a lender approved lawyer for your home move in Clayhall