We are approaching an exchange on a flat in Victoria Docks and my parents have sent the 10% deposit to my conveyancer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender. 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 mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your property lawyer 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 resources. The solicitor can only notify this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Can I use your services to locate a Conveyancing solicitor in Victoria Docks even if I’m not buying or disposing of a house, for instance if I intend to buy a shop in Victoria Docks with a mortgage from National Westminster Bank?
Our search tool is mainly there to find domestic conveyancing solicitors in Victoria Docks but we have set out at the end of this page some Victoria Docks commercial conveyancing firms. You should speak with the firm directly to establish if they can also act for National Westminster Bank
My wife and I are buying a property in Victoria Docks. It might be a silly question but how we can trust a lawyer? On the day of competition we have to send funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
How can we know in advance if a Victoria Docks conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Victoria Docks seeking recommendations is a sensible start. 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 advertising the lowest fees. We would always suggest that you speak with the solicitor conducting your conveyancing.
I have decided to exercise my right to buy my property in Victoria Docks off the council. I have a mortgage agreed with HSBC. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
Just had an offer accepted on a new build flat in Victoria Docks. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Victoria Docks
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are architect prepared. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Victoria Docks is the location of the property. What do you suggest?
Flying freeholds in Victoria Docks are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Victoria Docks you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Victoria Docks may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Why can't I complete my conveyancing in Victoria Docks on May bank holiday?
Because on completion the purchase price needs to be transferred electronically between the banks of the buyer and owner’s property lawyer and currently this can only take place on a business day. So you can't complete on a weekend either.