We are approaching an exchange on a property in Lytham St Annes and my mum and dad have sent the exchange deposit to my conveyancer. I am now advised that as the deposit has not come from me my conveyancing practitioner needs to make a notification to my bank. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the bank concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
The conveyancer 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 resources. Your solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
We are purchasing a flat and need a conveyancing solicitor in Lytham St Annes who is on the Kent Reliance conveyancing panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Kent Reliance . We don't recommend any particular firms conducting conveyancing in Lytham St Annes.
My wife and I have recently appointed a conveyancing solicitor in Lytham St Annes. I I am struggling to find out if they are on the Norwich and Peterborough Building Society approved list of lawyers. Can you advise?
The first thing to do is contact the lawyer and ask them whether they are on the lender panel. Otherwise you can call Norwich and Peterborough Building Society who may be able to confirm.
I'm the only recipient of my late mum's estate with all property in now in my sole name, including the house in Lytham St Annes. The Lytham St Annes property was put into my name in February. I want to move. I do know about the CML 6 month 'rule', meaning my proprietorship could be treated the same way as if I'd bought the house in February. Will no one buy the property for half a year?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How practical a view mortgage companies take of it, depend on the lender as this requirement chiefly exists to identify subsales or the wholesaling and assigning of properties.
Is it correct that all Lytham St Annes CQS (Conveyancing Quality Scheme) solicitors are on the Bank of Ireland conveyancing list of approved firms?
It is true that some banks and building societies now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s 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 solicitor practices wishing to remain on their approved list of conveyancing solicitors.
When it comes to lenders such as Aldermore, do Lytham St Annes lawyers face an annual charge to be on the list of approved solicitors?
We are not aware of any mortgage company fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Lytham St Annes?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Lytham St Annes. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a flat up to £245,000 and found one close by in Lytham St Annes I like with a park and station in the vicinity, however it only has 49 years unexpired on the lease. I can't really find anything else in Lytham St Annes for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a home loan the remaining unexpired lease term will likely be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.