I am only a couple days away from an exchange on a property in Whitechapel and my parents have transferred the ten percent deposit to my property lawyer. 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 mortgage company. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the mortgage company about my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
Your conveyancer is obliged to clarify with lender to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front for conveyancing in Whitechapel?
Where you are retaining lawyers for conveyancing in Whitechapel your lawyer will request that you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the total price then this will be needed shortly in advance of exchange of contracts. The final balance that is needed should be sent to your lawyer shortly before completion.
Is it necessary to pay for insurance to cover chancel repairs when buying a residence in Whitechapel?
Unless a prior acquisition of the premises took place post 12 October 2013 you could assume that solicitors conducting conveyancing in Whitechapel to remain recommending a chancel search and or chancel repair liability policy.
I'm purchasing my first flat in Whitechapel with the aid of help to buy. The sellers refused to budge the price so I negotiated £7000 of extras instead. The estate agent advised me not disclose to my conveyancer about the deal as it would affect my loan with Accord Mortgages Ltd. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
As co-executor for the estate of my grandfather I am selling a house in Neath but live in Whitechapel. My conveyancer (approximately 235 miles from meneeds me to execute a statutory declaration ahead of completion. Can you recommend a conveyancing solicitor in Whitechapel to witness and place their company stamp on the document?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are Whitechapel based
I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Whitechapel. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Whitechapel ?
The majority of houses in Whitechapel are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Whitechapel so you should seriously consider looking for a Whitechapel conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will advise you fully on all the issues.