My partner and I are approaching an exchange on a house in New Romney and my mum and dad have sent the exchange deposit to my property lawyer. I am now advised that as the deposit has not arrived from me my solicitor 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 informed the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The property lawyer is obliged to clarify with the bank to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front for conveyancing in New Romney?
If you are buying a property in New Romney your lawyer will request that you put them with monies to cover the search fees. This will be the total of the cost of the Local Authority Search. If any down payment is as part of the total price then this should be required shortly prior to contracts are exchanged. Any further balance that is due should be transferred a couple of days prior to the day of completion.
I am purchasing a house and require a conveyancing solicitor in New Romney who is on the Bank of Scotland approved. 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 listed as being on the approved conveyancing panel for Bank of Scotland in certain locations such as New Romney. We dont recommend any particular firm.
I have justbeen informed that Arc property Solicitors have been shut down. They carried out my conveyancing in New Romney for a purchase of a freehold house 18 months ago. How can I check that my home is registered correctly in the name of the previous owner?
The quickest method to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of New Romney conveyancing specialists.
How does conveyancing in New Romney differ for new build properties?
Most buyers of new build property in New Romney contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is built. This is because house builders in New Romney usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in New Romney or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. New Romney is where the house is located. What do you suggest?
Flying freeholds in New Romney are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside New Romney you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in New Romney may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.