My wife and I are approaching an exchange on a property in Prescot and my mum and dad have sent the exchange deposit to my conveyancer. I am now told that as the deposit has not arrived from me my lawyer needs to make a notification to my mortgage company. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your conveyancing practitioner is legally required to check with lender to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your lender if you agree, failing which, your lawyer must cease to continue acting.
I have 7378 less than 75 years unexpired on my lease and need a lease extension for my apartment in Prescot. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 18/9/2023 the requirements read as follows :
Is it the case that all Prescot CQS (Conveyancing Quality Scheme) solicitors are on the Nottingham conveyancing list of approved practices?
It is true that some lenders now make use of the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
How can we tell if a Prescot conveyancing solicitor on the TSB panel is any good?
When it comes to conveyancing in Prescot getting recommendations is a good starting point. 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 advocate that you speak with the lawyer carrying out your transaction.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Prescot solicitor - who is on the Barclays conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Prescot postcode. As you are getting a mortgage with Barclays, you could contact them to see if they have a list of approved surveyors in Prescot.
I am looking for a flat up to £305k and found one near me in Prescot I like with amenity areas and railway links in the vicinity, the downside is that it's only got 49 years on the lease. There is not much else in Prescot suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the shortness of the lease may be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
We're new to the buying process - agreed a price, but the agent advised that the owners will only move forward if we instruct the agent's recommended conveyancers as they want an ‘expedited deal’. My instinct tells me that we should use a family solicitor accustomed to conveyancing in Prescot
It is highly unlikely the owners are driving this. Should the seller desire ‘a quick sale', turning down a motivated buyer is is going to put the whole deal at risk. Try to communicate with the vendors directly and make the point that (a)you are genuine buyers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you will continue to use your preferred Prescot conveyancing lawyers - not the ones that will earn their negotiator at the agency a kickback or meet his conveyancing figures pre-set by head office.
What type of premises does your Prescot conveyancing quotes apply to?
The quotes provided are only applicable to standard residential premises in England & Wales. Should you have any different requirements such as industrial or agricultural land or commercial conveyancing in Prescot please telephone us to address your requirements .