My wife and I are nearing an exchange on a property in Woodhouse and Handsworth and my mum and dad have sent the exchange deposit to my conveyancing practitioner. I am now told that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my bank. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the lender about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
Your solicitor is duty bound to check with mortgage company to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
It is 10 years ago since I bought my home in Woodhouse and Handsworth. Conveyancing lawyers have recently been appointed on the sale but I am unable to track down my title deeds. Will this jeopardise the sale?
You need not be too concerned. First there is a possibility that the deeds will be retained by your mortgage company or they could still be with the lawyers who handled the purchase. Secondly in all probability the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. The vast majority of conveyancing in Woodhouse and Handsworth involves registered property but in the unlikely event that your property is not registered it adds to the complexity but is not insurmountable.
My wife and I are intent on selling our house in Woodhouse and Handsworth and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any high street Woodhouse and Handsworth conveyancer would know this is not the case. It does beg the question why the buyers used an internet conveyancing firm as opposed to a conveyancing solicitor in Woodhouse and Handsworth. We have lived in Woodhouse and Handsworth for many years we know of no issue. Should we get in touch with our local Authority to obtain confirmation that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I'm buying a new build house in Woodhouse and Handsworth benefiting from help to buy. The developers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not reveal to my solicitor about the extras as it will adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
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.
I have been on the look out for a leasehold apartment up to £195,000 and identified one near me in Woodhouse and Handsworth I like with open areas and railway links in the vicinity, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Woodhouse and Handsworth suitable, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
In my capacity as executor for the estate of my father I am selling a residence in Swansea but I am based in Woodhouse and Handsworth. My conveyancer (approximately 200 miles awayrequires that I execute a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing solicitor in Woodhouse and Handsworth to attest and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are Woodhouse and Handsworth based