We are nearing an exchange on a property in Poynton and my mum and dad have transferred the exchange deposit to my conveyancer. I am now advised that as the deposit has been sent from someone other than me my property lawyer needs to make a notification to my lender. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the lender about my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
Your conveyancing practitioner is obliged to check with mortgage company to ensure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Can you explain why leasehold purchase conveyancing in Poynton is more expensive?
Poynton leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My colleague suggested that where I am purchasing in Poynton I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Poynton conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Poynton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Poynton Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information concerning Poynton.
The deeds to our house are lost. The lawyers who handled the conveyancing in Poynton 4 years ago have long since closed. Will I be able to sell the house?
Assuming you have a registered title the information relating to your ownership will be evidenced by HMLR with a Title Number. It is easy to carry out a search at the Land Registry, find your property and obtain up to date copies of the property title for a small fee. If the title is Leasehold then the Land Registry will also normally hold a certified copy of the Registered Lease and again, a copy can be obtained for a small fee.
I am a fortnight into a freehold purchase having been referred to a firm by the selling agent to carry out the conveyancing in Poynton. I am not happy. Could you help me find new conveyancers?
A lawyer would need to be really bad in order to consider changing them. Has your mortgage been generated? In the event that it has you must advise them of the new contact details and have the offer are re-issued. Your conveyancer needs to be on the lenders panel to avoid escalating fees and complications. That should be your first question of the new conveyancers. The search tool will help you find a bank approved solicitor for your home move in Poynton
My wife and I are buying a studio flat in Poynton. At the point of instructing our conveyancing practitioner, we were told they were on all mainstream bank panels. Our mortgage broker called yesterday to advise that they are not on the Bank of Ireland approved list. Should that be true, what should we do? Do we simply choose a different property lawyer that is on their approved list or do we cover the costs for dual representation, with Bank of Ireland selecting their own preferred conveyancing practitioner.
When purchasing a property with mortgage finance it is standard for the buyer’s solicitors to also represent the mortgage company. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's conveyancing panel. An application has to be made by the conveyancer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the solicitor has to satisfy. Some mortgage companies now require their panel firms to be part of the Law Society’s Conveyancing Accreditation Scheme. Your conveyancer should call Bank of Ireland and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on Bank of Ireland's conveyancing panel and you may continue to use your own Poynton solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another conveyancing practitioner into the equation.