My wife and I are only a couple days away from an exchange on a flat in Burnley and my parents have transferred the 10% deposit to my conveyancing practitioner. I am now advised that as the deposit has been received from someone other than me my conveyancing practitioner needs to disclose this to my mortgage company. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the lender about my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
The solicitor is duty bound to clarify with mortgage company to ensure that they understand 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.
How does conveyancing in Burnley differ for newly converted properties?
Most buyers of new build residence in Burnley approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is completed. This is because developers in Burnley tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Burnley or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what should have been a simple, no chain conveyancing. Burnley is where the house is located. What do you suggest?
Flying freeholds in Burnley are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Burnley you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Burnley may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Given that I am about to part with hundreds of thousands of pounds on a two bedroom apartment in Burnley I would like to talk to a lawyer about myhome move in advance of instructing the firm. Is this something that you can arrange?
Absolutely - we would be pleased to talk to you we do not take any clients on without you speaking to the solicitor who will be conducting your property ownership legalities in Burnley.There is no ‘factory style conveyancing’ - each client is unique individual, not a file reference. The solicitors that we put you in touch with believe that the fees you are calculated and presented to you for residential conveyancing in Burnley should be the figure that you are charged.
My husband and I are new to the buying process - had an offer accepted, yet the estate agent told us that the seller will only proceed if we instruct the agent's preferred conveyancers as they want an ‘expedited deal’. Our preferred option is to instruct a high street solicitor who is accustomed to conveyancing in Burnley
It is improbable the vendors are behind this. Should the vendor desire ‘a quick sale', alienating a genuine purchaser is not the way to achieve this. Try to communicate with the owners directly and make sure they understand (a)you are motivated purchasers (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you wish to move quickly (e)however you are going to appoint your own,trusted Burnley conveyancing solicitors - not the ones that will give their negotiator at the agency a introducer fee or meet his conveyancing figures demanded by corporate headquarters.