I am getting closer to an exchange on a flat in Eltham and my parents have transferred the 10% deposit to my conveyancing practitioner. I am now told that as the deposit has been received from someone other than me my solicitor needs to disclose this to my bank. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I disclosed to the bank regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
The property lawyer is obliged to clarify with lender to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
My partner and I are at the point of looking at apartments in Eltham and I am about to put in an offer. Should I already have a conveyancing practitioner appointed at this stage? I am planning to take a mortgage with Clydesdale.
It would be wise to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. As you are seeking a mortgage with Clydesdale, make sure you remember to check that your lawyer is on the Clydesdale conveyancing panel.
I am currently in the process of buying my council flat in Eltham. I have a mortgage offer with Barclays. 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 use 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 Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
Planning on purchasing a house in Eltham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Eltham lawyer is on the RBS conveyancing panel.
We are planning on selling our house in Eltham and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A high street Eltham conveyancer would know this is not the case. For the life of me I don't know why the buyers instructed a nationwide conveyancing outfit rather than a conveyancing solicitor in Eltham. Having lived in Eltham for many years we know that this is a non issue. Do we get in touch with our local Authority to obtain confirmation need.
It would appear that you have a conveyancing solicitor already. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
How does conveyancing in Eltham differ for newly converted properties?
Most buyers of new build or newly converted property in Eltham contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is constructed. This is because new home sellers in Eltham tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Eltham or who has acted in the same development.
I was pointed in your direction by a few selling agents in Eltham to find a property lawyer using your seach tool. Is there a financial upside for Estate Agents to promote your lawyers ahead of another?
We don’t make any commission for sending work to this site. We found it would be just too difficult a fee because members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
My husband and I are a fortnight into a residential purchase having been referred to conveyancers by the estate agent to perform conveyancing in Eltham. I am not happy. Can you help me find new conveyancers?
They would need to be really poor to suggest diss instructing them. Has the loan offer been issued? If so you will need to advise them of the new lawyer and get the offer are re-issued. Your solicitor ideally needs to be on the mortgage company panel to avoid supplemental charges and frustration. So that should be your first question of the new lawyers. The find a solicitor tool can assist you in finding a lender approved lawyer for your conveyancing in Eltham