I am nearing an exchange on a house in Kennington and my mum and dad have transferred the exchange deposit to my lawyer. I am now told that as the deposit has not come from me my property lawyer needs to make a notification to my lender. I am advised that, in also acting for the bank 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 mortgage, so is it really necessary for this now to hold matters up?
Your lawyer is obliged to clarify with lender to make sure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
As someone not used to conveyancing in Kennington what’s your top tip you can impart for the legal transfer of property in Kennington
You may not hear this from too many lawyers but conveyancing in Kennington or throughout England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there exists an abundance of room for conflict between you and other parties involved in the transaction. For example, the seller, selling agent and even potentially the mortgage company. Choosing a solicitor for your conveyancing in Kennington an important selection as your conveyancer is your adviser, and is the ONE person in the process whose role it is to look after your legal interests and to keep you safe.
Every so often a third party with a vested interest may attempt to sway you that it is in your interests to do things their way. For instance, the property agent may claim to be assisting by suggesting your solicitor is slow. Or your financial adviser may advise you to do something that is against your solicitors guidance. You should always trust your lawyer above all other parties in the home moving process.
We are close to exchanging contracts on the sale of our house in Kennington and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. Any high street Kennington lawyer would know this is not the case. It does beg the question why the buyers are using an online conveyancing practice rather than a conveyancing solicitor in Kennington. Having lived in Kennington for many years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to get clarification need.
It would appear that you have a conveyancing lawyer currently acting for you. 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 health insurance to cover that same ailment)
It has been three months since my purchase conveyancing in Kennington completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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.
I am buying a new build apartment in Kennington. Conveyancing is a frightening process 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 conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Kennington
Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
As co-executor for the will of my father I am selling a property in Cardiff but reside in Kennington. My conveyancer (approximately 200 miles from meneeds me to execute a statutory declaration prior to completion. Can you recommend a conveyancing lawyer in Kennington who can attest this legal document for me?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are Kennington based