My husband and I are only a couple days away from an exchange on a house in Skegness and my mum and dad have sent the ten percent deposit to my property lawyer. I am now informed that as the deposit has been received from someone other than me my lawyer needs to disclose this to my mortgage company. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
Your conveyancer is duty bound to clarify with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Should lawyers ask for an advanced payment for my conveyancing in Skegness?
Where you are retaining lawyers for conveyancing in Skegness your lawyer will request that you place them with funds to cover the search fees. Ordinarily this is asked for to cover the fees of the conveyancing searches. If any down payment is as part of the purchase price then this should be needed immediately in advance of exchange of contracts. Any further balance that is needed should be sent to your lawyer a few days ahead of the completion date.
I am selling my apartment in Skegness. Will my property lawyer need to be on the Nationwide conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently at the moment.
I am buying my first flat in Skegness benefiting from help to buy. The sellers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not disclose to my solicitor about this deal as it would adversely affect my mortgage with Barclays Direct. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been sourcing a conveyancing practitioner in Skegness for my house move. Is it possible to review a firm’s record with the profession’s regulator?
Members of the public may review presented Solicitor Regulator Association (SRA) determinations stemming from investigations started on or after Jan 2008. Visit Check a solicitor's record. To find information Pre 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The SRA could recorded telephone calls for training requirements.
My friend mentioned that when choosing a conveyancing firm they need approved by your bank. It happens to be my first home move but I have an offer in principle from Santander and I already have a bricks and morter conveyancing lawyer in Skegness in place. Will Virgin Money need an approved conveyancer to be selected? Does a directory of approved conveyancers even exist so I can appoint a conveyancing lawyer in Skegness?
You need to choose a solicitor that is on the Virgin Money panel. Simply call your chosen Skegness conveyancing lawyer and ask if they are on the Virgin Money panel. If they are not approved you have numerous alternatives open to you here:
- Proceed with your preferred Skegness lawyer but Virgin Money will undoubtedly retain a conveyancer from their approved list. This will result in additional fees and likely delay.
- Appoint a new conveyancing practitioner to conduct the conveyancing, not forgetting to check that they are on the Virgin Money conveyancing panel.
- Appeal to your conveyancer to seek to join the mortgage company panel.