My husband and I are only a couple days away from an exchange on a flat in Motspur Park and my parents have transferred the 10% deposit to my solicitor. I am now told that as the deposit has been sent from someone other than me my conveyancing practitioner needs to disclose this to my mortgage company. Apparently, in also acting for the mortgage company he must inform 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 necessary for him to raise this?
The conveyancer is duty bound 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 bank if you permit them to, failing which, your lawyer must cease to continue acting.
Are the Motspur Park conveyancing solicitors identified as being on the Nottingham conveyancing panel, together with their details provided by Nottingham?
Motspur Park conveyancing firms themselves provide us confirmation that they are on the Nottingham conveyancing panel as opposed to being supplied with a list from Nottingham directly.
Various internet forums that I have visited warn that are the main reason for stalling in Motspur Park house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Motspur Park.
I opted to have a survey carried out on a property in Motspur Park ahead of appointing conveyancers. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some banks may not give a mortgage on such a house.
It varies from the lender to lender. Santander has different requirements from Halifax. If you contact us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Motspur Park. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it best to instruct a Motspur Park conveyancing solicitor based in the area that I am hoping to buy? We have a good friend who can perform the conveyancing but they are based approximately 350kilometers drive away.
The primary upside of using a high street Motspur Park conveyancing practice is that you can pop in to sign paperwork, hand in your ID and pester them where appropriate. They will also have local intelligence which is a plus. 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 they were impressed that must surpass using an unfamiliar Motspur Park conveyancing solicitor solely due to them being local.
What type of property do your Motspur Park conveyancing estimates relate to?
The quotes supplied are only appropriate to standard domestic homes in England & Wales. Where you have any different needs such as industrial or agricultural property or commercial conveyancing in Motspur Park do contact us to consider your requirements .