I am only a couple days away from an exchange on a flat in Holly Village and my mum and dad have transferred the ten percent deposit to my conveyancing practitioner. I am now advised that as the deposit has been received from someone other than me my solicitor needs to make a notification to my lender. Apparently, in also acting for the lender 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 delay the deal?
Your lawyer is duty bound to clarify with lender to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
The Holly Village conveyancing firm that I recently instructed on my purchase in Holly Village have suddenly closed. They were on acting for me because I had to have a solicitor on the Virgin Money conveyancing panel and my preferred Holly Village lawyer was not. I paid them 275 plus VAT on account. What should be my next steps?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Virgin Money conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
This question may be naive but I am wet behind the ears as a 1st time purchaser of a two bedroom flat in Holly Village. Do I collect the keys to the property on completion from my solicitor? If so, I will appoint a High Street conveyancing solicitor in Holly Village?
On the day of completion you do not need to go to the conveyancers office in Holly Village. Conveyancing lawyers for you will arrange to send the completion advance to the seller's conveyancers, and shortly after the monies have arrived, you should be called to collect the keys from the Estate Agents and start moving into the property. Usually this happens between 1 and 3pm.
My wife and I are at the point of looking at houses in Holly Village and I am now considering a potential offer. Should I already have a conveyancing practitioner in place at this point? I am planning to take a mortgage with Barclays.
It would be sensible to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. Given that you are taking out a mortgage with Barclays, make sure you remember to check that your lawyer is on the Barclays conveyancing panel.
I have paid off my mortgage with RBS. I assume I don't need a Holly Village conveyancing practitioner on the RBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
Due to the input of my in-laws I had a survey completed on a property in Holly Village prior to retaining lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some mortgage companies will not give a mortgage on such a house.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Holly Village. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Holly Village to see if the conveyancing costs will increase in light of this.
What does commercial conveyancing in Holly Village cover?
Holly Village conveyancing for business premises incorporates a wide array of services, offered by regulated solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.