I am nearing an exchange on a flat in Consett and my parents have transferred the 10% deposit to my property lawyer. I am now advised that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my mortgage company. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
The solicitor 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 reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Is there a reason why leasehold purchase conveyancing in Consett is more expensive?
The conveyancing costs on a leasehold premises in Consett is often higher when contrasted to a freehold property. This is due to the additional investigations required in communicating with the landlord and managing agents to obtain information concerning whether the rent and service fee have been cleared and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the block.
We're in Consett, First timers buying with a mortgage (lender is RBS , and our solicitor is on the RBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the RBS 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.
I am buying a house and the lawyer has referenced Chancel Repair to which the property could be obligated to pay because it falls into the area of such a church. She has recommended insurance. Is this strictly appropriate for conveyancing in Consett
Unless a previous purchase of the property completed after 12 October 2013 you can assume that conveyancing practitioners carrying out conveyancing in Consett to continue to propose a a chancel search and or chancel repair liability insurance.
2 months have elapsed following my purchase conveyancing in Consett took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. 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 premises 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.
We are a couple of weeks into a leasehold purchase having been directed to a firm by the high street agent to do our conveyancing in Consett. I am am extremely dissatisfied with the level of service. Could you help me find new solicitors?
A solicitor would need to be very bad in order to consider replacing them. Has the loan offer been generated? In the event that it has you must inform them of the new contact details and ensure the offer are re-sent. The solicitor ideally should be on the mortgage company approved list to avoid added charges and frustration. That should be your starting point. The find a solicitor tool should help you find a lender approved lawyer for your conveyancing in Consett