I am approaching an exchange on a flat in Furzedown and my parents have sent the ten percent deposit to my solicitor. I am now informed that as the deposit has not arrived from me my conveyancing practitioner needs to make a notification to my mortgage company. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I advised the bank about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
The property lawyer is duty bound to check with lender to ensure that they know that the balance of the purchase price is not from your own funds. The solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Are the Furzedown conveyancing solicitors identified as being on the Nottingham conveyancing panel, together with their details provided by Nottingham?
Furzedown conveyancing firms themselves provide us confirmation that they are on the Nottingham conveyancing panel as opposed to being supplied with a list from Nottingham directly.
I have been told that property searches are the main cause of hinderance in Furzedown house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of slowing down conveyancing in Furzedown.
I have todaybeen informed that Stirling Law have been shut down. They conducted my conveyancing in Furzedown for a purchase of a freehold house 9 months ago. How can I establish that my home is in my name in the name of the previous owner?
The easiest method to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Furzedown conveyancing specialists.
How does conveyancing in Furzedown differ for newly converted properties?
Most buyers of new build residence in Furzedown approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is built. This is because builders in Furzedown tend to buy 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 conveyancing solicitors 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 Furzedown or who has acted in the same development.