My wife and I are getting closer to an exchange on a property in Crosby and my parents have transferred the exchange deposit to my solicitor. I am now told that as the deposit has been sent from someone other than me my conveyancer needs to disclose this to my lender. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I informed the mortgage company about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
Your lawyer is legally required to check with mortgage company to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Can I use your services to locate a Conveyancing solicitor in Crosby even where I’m not buying or selling a house, for example where I want to buy a shop in Crosby with a loan from Alliance & Leicester ?
The service is predominantly there to locate residential conveyancing solicitors in Crosby but we have set out towards the bottom of this page a selection of Crosby commercial conveyancing firms. You will need to make contact with the solicitors directly to establish if they can also act for Alliance & Leicester
Is it correct that all Crosby CQS (Conveyancing Quality Scheme) solicitors are on the Clydesdale conveyancing list of approved firms?
It is true that some lenders now utilise CQS as the kick off point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
My husband and I have organised a further advance on our mortgage from TSB as we want to conduct improvements to our house in Crosby. Are we obliged to choose a high street Crosby solicitor on the TSB conveyancing panel to deal with the legals?
TSB would not normally appoint a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the TSB conveyancing panel.
I've read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Crosby solicitor - who is on the Principality conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Crosby surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I need some fast conveyancing in Crosby as I am faced with an ultimatum to sign on the dotted line inside one month. A home loan is not required. Can I decline from having conveyancing searches to save fees and time?
If.Given you are not taking a mortgage you have the choice not to do searches although no conveyancer would suggest that you don't. With plenty of history conveyancing in Crosby the following are examples of what can be revealed and adversely affect future saleability: Refused Planning Applications, Overdue Fees, Overdue Grants, Railway Schemes,...
I am buying my first flat in Crosby with a loan from The Mortgage Works. The sellers would not budge the price so I negotiated 6k of additionals instead. The house builders rep told me not to tell my solicitor about this extras as it could impact my mortgage with The Mortgage Works. Is this normal?.
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 opted to have a survey carried out on a house in Crosby in advance of appointing conveyancers. I have been told that there is a flying freehold element to the property. My surveyor advised that some banks may refuse to give a loan on such a property.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Crosby. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Crosby to see if the conveyancing will be more expensive.