My wife and I are only a couple days away from an exchange on a house in Whetstone and my parents have transferred the 10% deposit to my conveyancer. I am now advised that as the deposit has been received from someone other than me my lawyer needs to make a notification to my bank. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the bank concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The lawyer is legally required to check with mortgage company to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would prefer to instruct a high street conveyancing solicitor in Whetstone?
Do check but the the probability is that give you one of their panel conveyancers should you want the "fee-free" incentive. Call the mortgage company and see if they allow a cash alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor near Whetstone.
Forgive me if this question is silly but I am unseasoned as FTB of a garden flat in Whetstone. Do I collect the keys to the property on completion from my lawyer? If this is the case, I will appoint a High Street conveyancing solicitor in Whetstone?
On the day of completion you do not need to go to the conveyancers office in Whetstone. Your solicitors will arrange to send the purchase money to the owner’s solicitors, and once they have received this, you should be called to pick up the keys from the property Agents and move into your new home. This tends to happen early afternoon.
We are getting the release of further monies on our home loan from HSBC as we wish to conduct a loft conversion to our house in Whetstone. Are we obliged to choose a local Whetstone solicitor on the HSBC conveyancing panel to deal with the legals?
HSBC don't usually instruct firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC panel.
My offer on a semi in Whetstone has been accepted, but there is a chain. The owners have placed an offer on somewhere, however it’s not been accepted yet, and have viewings of other apartments in the pipeline. I have instructed a high street conveyancing solicitor in Whetstone. What should be my next step? At what stage should I apply for the mortgage with Santander?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur costs too early (mortgage application is in the region of £1k, then survey, Whetstone conveyancing search charges, etc). The first thing to do is check that your solicitor is on the Santander approved list. As to the subsequent steps this very much dictated by the specifics of your case, motivation for this property and on the state of the market. During a buoyant market many buyers will apply for the mortgage with Santander and arrange for the valuation and only if it was satisfactory would they ask their solicitor to proceed with the conveyancing in Whetstone.
I have been told that property searches are the primary reason for hinderance in Whetstone conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays during the legal transfer of property. Searches are not likely to be the root cause of holding up conveyancing in Whetstone.
I'm buying my first flat in Whetstone with a loan from Santander. The builders refused to reduce the price so I negotiated £7000 of additionals instead. The sale representative told me not disclose to my lawyer about this side-deal as it will impact my loan with the bank. Do I keep my lawyer in the dark?.
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 am looking to sell my house. My past conveyancers have shut. I am in need of a recommendation of a conveyancing firm. Im based in Whetstone if that makes a difference.
Please use our search tool to help you find a solicitor for your conveyancing in Whetstone. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.