My partner and I are only a couple days away from an exchange on a flat in Edingale and my mum and dad have transferred the 10% deposit to my conveyancing practitioner. I am now told that as the deposit has been received from someone other than me my lawyer needs to make a notification to my lender. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I informed the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancer is obliged to clarify with lender to make sure that they are aware 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.
I happen to be the sole beneficiary of my late mum's will with all property in now in my sole name, including the house in Edingale. Conveyancing formalities meant that the Land Registry date was in June. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my proprietorship will be regarded the same way as though I had purchased the house in June. Do I have to wait 6 months to sell?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How practical a view lenders take of it, depend on the bank as this requirement principally exists to capture subsales or the wholesaling and assigning of properties.
I am due to exchange contracts on my flat. I had a double glazing fitted in July 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Bank of Ireland are being problematic. The Edingale solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are insisting on a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Having digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Edingale solicitor - who is on the Coventry BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS 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. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Edingale postcode. As you are getting a mortgage with Coventry BS, you could contact them to see if they have a list of approved surveyors in Edingale.
I used Wolstenholmes a few years ago for my conveyancing in Edingale. I now require my papers but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Edingale of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been on the look out for a leasehold apartment up to £195,000 and identified one round the corner in Edingale I like with a park and railway links in the vicinity, the downside is that it only has 52 years on the lease. There is not much else in Edingale suitable, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
Hoping to buy a property located in Edingale and I am already nervous. I couldn't find anything specific about Edingale. Conveyancing will be needed in due course but do you know about the Edingale area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Edingale. In the meantime here are some basic statistics that we found
We have AIP from The Royal Bank of Scotland who have advised we could borrow up to £117k. At what point do I need to instruct a solicitor for conveyancing? Edingale is where we plan to move to.
You can instruct a solicitor now so that the property lawyer can open the file so they can commence their ID checks etc. If and when you wish them to commence work you will be asked for a payment on account normally about £175. That would generally be once you have the mortgage offer and valuation back, nevertheless should you wish to expedite the process you can start quicker even though you may be risking some expense.