We are getting closer to an exchange on a flat in Carterton and my mum and dad have sent the exchange deposit to my property lawyer. 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 inform them that the balance of the purchase price is not just from me. I disclosed to the bank regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?

Your conveyancer is legally required to check with lender to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.

Why do I have to pay up front when it comes to conveyancing in Carterton?

Where you are retaining lawyers for conveyancing in Carterton your lawyer will ask you place them with monies to cover the search fees. This will be the total of the cost of the Local Authority Search. When the down payment is as part of the total price then this will be needed shortly prior to exchange of contracts. The closing balance that is needed should be sent to your lawyer a couple of days prior to the day of completion.

Will my conveyancing lawyers need to check that the building insurance when buying a house in Carterton. My lender is Tesco Bank

Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 26/2/2025, the requirements read as follows :

I am purchasing my first flat in Carterton with a mortgage from Chelsea Building Society. The builders refused to reduce the price so I negotiated £7000 of additionals instead. The sale representative suggested that I not inform my conveyancer about this deal as it will put at risk my loan with the lender. 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 decided to have a survey completed on a property in Carterton ahead of retaining lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some lenders tend not give a loan on a flying freehold house.

It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. Should you wish to telephone us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Carterton. Conveyancing may be slightly more expensive based on your lender's requirements.