I am getting closer to an exchange on a house in Maghull and my mum and dad have sent the exchange deposit to my solicitor. I am now advised that as the deposit has been received from someone other than me my conveyancer needs to make a notification to my lender. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the lender regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
Your conveyancer is obliged to clarify with lender to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your lender if you agree, failing which, your lawyer must cease to continue acting.
In what way does my ID and proof of funds have anything to do with my conveyancing in Maghull? Is this really warranted?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with prior to agreeing to accepting their conveyancing business. The Terms of Engagement that you are required to sign should confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you are unwilling to supply identification documents, your lawyer can not take you on as a client.
How can we tell if a Maghull conveyancing solicitor on the Bank of Ireland panel is any good?
When it comes to conveyancing in Maghull getting recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor conducting your conveyancing.
Two weeks ago we had a mortgage agreed in principle with Co-operative. Maghull conveyancing solicitors have been chosen. How long does it take for Co-operative to send the offer to the conveyancer?
There is no definitive answer here. Have Co-operative done the valuation? Have you informed Co-operative as to your lawyers' details and checked that your lawyers are on the Co-operative conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have paid off my mortgage with Yorkshire BS. I assume I don't need a Maghull lawyer on the Yorkshire BS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
We are purchasing a house and the conveyancer has identified Chancel Repair for which the house could be liable because it falls into the area of such a church. She has suggested insurance. Is this really warranted for conveyancing in Maghull
Unless a previous purchase of the house took place after 12 October 2013 you may take it that solicitors carrying out conveyancing in Maghull to remain encouraging a chancel search and or insurance against a claim.
Should I instruct a Maghull conveyancing lawyer in close proximity to the house I am hoping to buy? I have an old university friend who can carry out the legal work but his firm is located approximately 350miles away.
The primary upside of using a high street Maghull conveyancing practice is that you can attend the office to execute paperwork, deliver your ID and apply pressure on them where appropriate. They will also have local intelligence which is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and the majority were impressed that must outweigh using an unfamiliar Maghull conveyancing lawyer solely due to them being local.
How and when do I pay stamp duty chargeable for my conveyancing in Maghull?
The property lawyer will complete a Land Transaction Return Form on your behalf as part of your Maghull purchase transaction for you to sign. On completion your property lawyer will submit your STL application to the Inland Revenue and - as long as they have the funds - pay any tax bill payable for you.