My husband and I are nearing an exchange on a flat in Dartmouth Park and my mum and dad have transferred the ten percent deposit to my solicitor. I am now told that as the deposit has been sent from someone other than me my conveyancing practitioner needs to disclose this to my mortgage company. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
The conveyancer is duty bound to clarify with lender to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your lender if you agree, failing which, your lawyer must cease to continue acting.
It is 10 years ago since I purchased my house in Dartmouth Park. Conveyancing lawyers have just been instructed on the sale but I am unable to track down the title documents. Is this a major issue?
You need not be too concerned. Firstly there is a possibility that the deeds will be with your mortgage company or they could stored with the conveyancers who oversaw your purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors acquiring up to date copy of the land registers. Nearly all conveyancing in Dartmouth Park relates to registered property but in the unlikely event that your property is unregistered it is more tricky but is not insurmountable.
Are the BSA planning on creating a searchable register to to identify practices on the Darlington Building Society conveyancing panel for example in Dartmouth Park?
Lexsure has not been advised of any plans on the part of the BSA to develop such a search facility.
Various internet forums that I have come across warn that are the primary reason for delay in Dartmouth Park conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Dartmouth Park.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a quick, chain free conveyancing. Dartmouth Park is the location of the property. What do you suggest?
Flying freeholds in Dartmouth Park are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Dartmouth Park you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Dartmouth Park may determine 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'm refinancing my current property to a buy to let loan with Godiva Mortgages Ltd and intend to use the remaining equity towards another property. The neighborhood we are interested in is Dartmouth Park. Will your solicitors be able to act for the two banks and tie in the two deals?
Do use our search tool on this page to ensure that the conveyancers are on the relevant lender panels. On the basis that they are the conveyancer should be able to simultaneously deal with the two deals but you should have a chat with you solicitor and make clear your desired outcome and needs.