My partner and I are getting closer to an exchange on a property in Hanley and my mum and dad have sent the 10% deposit to my property lawyer. I am now told that as the deposit has not come from me my property lawyer needs to disclose this to my mortgage company. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I advised the bank concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
Your property lawyer is duty bound to check with the bank to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Having sold my house in Hanley last August but our buyer keeps whats apping me complaining that her conveyancer is waiting to hear from myconveyancer. What should have happened now that I have sold?
Following your house sale your lawyer is committed to send the transfer deeds and all additional paperwork to the buyer’s solicitors. If applicable, your conveyancer must also evidence that the home loan has been paid off to the buyers solicitors. There are no post completion procedures unique to conveyancing in Hanley.
We're in Hanley, First timers buying with a mortgage (lender is Lloyds , and our lawyer is on the Lloyds conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Lloyds conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
After weeks of negotiation I have agreed a price on a house in Hanley. My financial adviser suggested a property lawyer. I paid an upfront payment of £200. Soon after, the property lawyer contacted me sheepishly admitting that they were not on the Yorkshire BS 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 Yorkshire BS 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.
After shopping around on the internet I have found a Hanley conveyancing practitioner having made sure that they are on the Aldermore conveyancing panel. Does my lawyer arrange the survey of the property?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Hanley surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I have finally had an offer on a flat in Hanley accepted, the sellers do however have an associated purchase. The sellers have offered on somewhere, but it’s not yet agreed to, and have viewings of other apartments in the pipeline. I have chosen a high street conveyancing solicitor in Hanley. What do I do now? When do I get the mortgage application with Lloyds going?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then valuation, Hanley conveyancing search charges, etc). First, you should check that your solicitor is on the Lloyds approved list. Regarding the subsequent steps this very much depends on the uniqueness of your case, desire for the property and on the state of the market. During a hot market the majority of buyers will apply for the mortgage with Lloyds and arrange for the valuation and only if it comes back ok would they request their conveyancing practitioner to press on with searches.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Hanley is where the house is located. Is there any advice you can impart?
Flying freeholds in Hanley are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hanley you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hanley 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.