We are approaching an exchange on a house in Forest Hall and my mum and dad have sent the ten percent deposit to my lawyer. I am now advised that as the deposit has not come from me my solicitor needs to disclose this to my bank. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the bank regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
Your lawyer is legally required to clarify with lender to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your bank if you agree, 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 lawyer as I would much rather instruct a high street conveyancing solicitor in Forest Hall?
Do check but the the likelihood is that give you one of their panel solicitors where you want the "fee-free" offer. Call the mortgage company and see if they offer you a monetary alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in Forest Hall.
I am the sole beneficiary of my late mum's will with all property in now in my sole name, including the house in Forest Hall. The Forest Hall property was put into my name in June. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', meaning my proprietorship could be regarded the same way as if I'd bought the house in June. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges 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 affected by that. How practical a view banks take of it, depend on the lender as this provision primarily exists to pick up on the purchase and immediately sell or the wholesaling and assigning of properties.
After weeks of negotiation I have agreed a price on a house in Forest Hall. My mortgage broker recommended their conveyancers. I paid an advanced payment of £150. A few days later, the lawyer contacted me to say that they were not on the Co-operative conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Co-operative panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am selling my flat. I had a double glazing fitted in June 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Principality are being difficult. The Forest Hall solicitor who is on the Principality conveyancing panel is recommending indemnity insurance as a solution but Principality are insisting on a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality 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.
Given that I am about to spend hundreds of thousands of pounds on a garden flat in Forest Hall I wish to talk to a solicitor concerning thehouse move prior to instructing the firm. Can this be arranged?
Absolutely - it is our preference to talk to you we do not take any clients on without you speaking to the conveyancer who will be conducting your property ownership legalities in Forest Hall.There is no ‘factory style conveyancing’ - every client is unique person, not a case number. The practices that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Forest Hall should be the amount on the final invoice that you end up paying.
We are 18 days into a residential purchase having been directed to solicitors by the local agent to do our conveyancing in Forest Hall. I am am starting to be frustrated with the level of service. Can you you assist me in finding new conveyancers?
A conveyancer would have to be really poor to suggest changing them. Has the mortgage offer been generated? In the event that it has you will need to make them aware of the new contact details and have the mortgage documents are re-issued. The conveyancer should be on the banks panel to avoid added fees and delays. That should be your starting point. The search tool can assist you in finding a bank approved conveyancer for your conveyancing in Forest Hall
Myself and my fiance have recently had an offer agreed on a property and had an appointment on Wednesday with Leeds Building Society for the mortgage. They advised me that when it comes to choosing a lawyer that if they are not on their approved panel of conveyancers then we will have to pay out an additional fee of £250+. This is because they will then have to instruct a solicitor to act for them as well as the one we choose to act on our behalf and we assume responsibility for their costs. I have requested Leeds Building Society to supply me with a list so I can seek quotes only from their approved solicitors but was told that I need to check with each individual conveyancer to see if they are on the panel. Is there a list online?
You should ask Leeds Building Society what their panel criteria is for a conveyancer.Then ask the lawyer of your choice whether they meet the criteria and have they acted on mortgages for Leeds Building Society historically. Where the answer to those is yes, then just double check with Leeds Building Society. Alternatively please utilise our search facility and we should be able to locate a solicitor in Forest Hall on the approved list for Leeds Building Society.