My partner and I are only a couple days away from an exchange on a property in Upney and my parents have sent the exchange deposit to my property lawyer. I am now told that as the deposit has not arrived from me my lawyer needs to disclose this to my bank. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I informed the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
Your conveyancer is legally required to check with mortgage company to make sure 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 agree, failing which, your lawyer must cease to continue acting.
What is the difference between a licensed conveyancer and conveyancing solicitor in Upney
There are many recorded licenced Conveyancers in Upney and Solicitor practices in Upney who can help with your conveyancing We would stress that both are regulated professionals specialising in the legal aspects of transferring property. They may both also deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
A colleague pointed out to me me that in purchasing a property in Upney there may be various restrictions as to what one can do in terms of external changes to the property. Is this right?
We are aware of anumerous of properties in Upney which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Upney should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Upney solicitor - who is on the Clydesdale conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Clydesdale will need an independent valuation of the property. Your lawyer will not arrange this. Usually Clydesdale 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. You may wish to consider appointing your own Upney surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Just acquired a semi-detached house in Upney , how long will it take for the Land Registry to record the transfer to my name? My Upney conveyancing solicitor has been painfully slow, so I want to be certain that my purchase is registered.
As far as conveyancing in Upney is concerned, registration is no faster or slower than the rest of England and Wales. Rather than based on location, timescales can differ subject to the party submitting the application, whether it is in order and if the Land registry need to notify any interested persons or bodies. At present in the region of three quarters of such applications are completed in less than three weeks but some can be subject to protracted hold-ups. Historically registration is effected once the new owner has moved in to the property so registration formalities is not typically an essential issue but if there is a degree of urgency associated with the registration then you or your lawyers could contact the land registry and explain the circumstances.
Due to the guidance of my in-laws I had a survey completed on a property in Upney before instructing solicitors. I have been advised that there is a flying freehold aspect to the property. The surveyor advised that some mortgage companies will refuse to grant a mortgage on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. If you call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Upney. Conveyancing will be smoother if you use a solicitor in Upney especially if they are acquainted with such properties in Upney.
I'm converting the mortgage on my primary house to a buy to let loan with Barclays and intend to use the remaining equity as a down payment on another property. The neighborhood we are interested in is Upney. Will your solicitors be able to act for both sets of mortgage companies and tie in the conveyances?
Do use our comparison tool on this site to check that the solicitors are approved by both lenders. Having checked that they are the lawyer will be able to simultaneously deal with the two transactions but you should talk with you lawyer and specify your expectations and needs.
Me and my partner have just had an offer agreed on a apartment and had an appointment on Wednesday with HSBC for the mortgage. They have informed us that when it comes to selecting a lawyer that if they are not on their approved list of conveyancing practitioners then we will be subject to an an extra charge of about two hundred pounds. This is is due to the fact that they would then have to appoint a property lawyer to act on their behalf in addition to the one we select on our behalf and we are liable for their fees. I have requested HSBC to send me with a list so I can request estimates only from their approved solicitors but was told that I need to check with each individual solicitor to see if they are on the panel. Is there a simple way of finding out who is on a lender panel?
You can enquire of HSBC what their criteria for panel membership is for a conveyancer.Then ask the conveyancer of your choice whether they meet the criteria and have they acted on mortgages for HSBC before. Where the answer to those is yes, then just double check with HSBC. Another option is to utilise our search facility and we may be able to find you a conveyancing practitioner in Upney on the approved list for HSBC.