My husband and I are nearing an exchange on a flat in Tilbury and my parents have sent the 10% deposit to my conveyancing practitioner. I am now advised that as the deposit has been received from someone other than me my solicitor 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 informed the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your property lawyer is legally required to clarify with the bank 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 bank if you permit them to, failing which, your lawyer must cease to continue acting.
My uncle passed away six months ago and as sole heir and executor I was left the house in Tilbury. The house had a small mortgage remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this possible?
Given you plan to refinance then Virgin Money will require that you use a conveyancer on the Virgin Money conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Virgin Money conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Virgin Money mortgage is registered as a charge at the Land Registry.
Is it the case that all Tilbury CQS (Conveyancing Quality Scheme) solicitors are on the Coventry BS conveyancing list of approved solicitors?
A selection of banks and building societies now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
When it comes to lenders such as Bank of Ireland, do Tilbury conveyancing practitioners have to pay a yearly amount to be on the list of approved solicitors?
We are not aware of any bank fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
is it true that all Tilbury solicitors on the Aldermore conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Aldermore approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Some banks do permit licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.
I used Arc property Solicitors a few years ago for my conveyancing in Tilbury. Now, I need my documents however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Tilbury of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm refinancing my current home to a BTL mortgage with Accord Mortgages Ltd and intend to use the remaining equity towards a second property. The area we are looking at is Tilbury. Will your lawyers be able to act for the two mortgage companies and link together the conveyances?
Make use of our search tool on this site to ensure that the lawyers are on the relevant lender panels. On the basis that they are the solicitor will be able to simultaneously deal with the two transactions but you should have a chat with you lawyer and make clear your expectations and requirements.
I have miscalculated my finances and am a couple of thousand pounds short a 10% deposit on my house purchase in Tilbury , but I am keen go ahead. Do I have options?
One option is to try and accept a smaller deposit. Many sellers will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute