My wife and I are only a couple days away from an exchange on a house in Moss Nook and my mum and dad have sent the exchange deposit to my conveyancing practitioner. I am now advised that as the deposit has not arrived from me my solicitor needs to disclose this to my bank. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
Your solicitor is obliged to clarify with lender to make sure that they know that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I'm purchasing a new build house in Moss Nook benefiting from help to buy. The sellers refused to reduce the amount so I negotiated £7000 of extras instead. The property agent suggested that I not to tell my solicitor about the deal as it may jeopardize my mortgage with Chelsea Building Society. Is this normal?.
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 for a flat up to £305k and found one near me in Moss Nook I like with amenity areas and railway links in the vicinity, however it only has 51 years on the lease. There is not much else in Moss Nook for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the shortness of the lease will likely be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
How do I search for a Moss Nook solicitor on the Lloyds TSB Bank conveyancing panel? I have a car and am willing to travel upto 25miles to meet the solicitor.
You can use the tool on this page. Please select a bank and your location and you will see a number of Moss Nook conveyancing lawyers located nearest you. We have detailed some Moss Nook conveyancing firms at the bottom of this page and you can call them to verify if they are on the Lloyds TSB Bank panel
My cousin has encouraged me to instruct his conveyancing solicitors in Moss Nook. Should I find my own property lawyer?
Much as we are happy to recommend a Moss Nook conveyancing lawyer the best way to choose a conveyancing practitioner is to seek guidance from friends or relatives who have used the solicitor that you are are thinking of instructing.
Been searching for a conveyancing practitioner for freehold sale conveyancing in Moss Nook. We are selling, uncomplicated no mortgage to redeem, no rush, no onward purchase. Got a quote from a lawyer for £1000 plus VAT which is a little steep given that its so straightforward. Is it possible to find less expensive fees for conveyancing in Moss Nook?
As it’s a sale only, £425 + VAT would be about the cheapest for sale conveyancing in Moss Nook.