My wife and I are nearing an exchange on a flat in Hollywood and my mum and dad have sent the 10% deposit to my conveyancing practitioner. I am now told that as the deposit has been received from someone other than me my property lawyer needs to disclose this to my bank. 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 disclosed to the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The conveyancer is legally required to clarify with mortgage company to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Will lawyers ask for an advanced payment when it comes to conveyancing in Hollywood?
If you are buying a property in Hollywood your solicitor will ask you to provide them with monies to cover the search fees. This will be the total of the cost of the Local Authority Search. When the deposit is payable against the purchase price then this will be asked for shortly prior to contracts are exchanged. The final balance that is due should be transferred a few days ahead of the day of completion.
We are planning to purchase with Darlington Building Society. We have called around locally but cant to find a Hollywood conveyancing firm on the Darlington Building Society panel. Can you assist?
You should take advantage of the find a lender approved solicitor tool on this web page. Pick the mortgage company and type Hollywood or your preferred area and you will discover numerous conveyancers offices in Hollywood or near you.
Just had an offer accepted on a new build flat in Hollywood. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Hollywood
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Due to the encouragement of my in-laws I had a survey completed on a property in Hollywood ahead of retaining conveyancers. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some banks tend not issue a mortgage on this type of premises.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. Should you wish to call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hollywood. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it simple use your search tool to get a fee calculation from a conveyancing solicitor in Hollywood on the authorised to act for my bank?
1st pick a mortgage company such as National Westminster Bank, Virgin Money or Alliance & Leicester then specify your location e.g. Hollywood. Conveyancing practices in Hollywood and further afield will then be listed.