My wife and I are only a couple days away from an exchange on a property in Kensington and my parents have sent the exchange deposit to my property lawyer. I am now informed that as the deposit has not arrived from me my solicitor needs to disclose this to my mortgage company. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The lawyer is duty bound to clarify with mortgage company to make sure that they understand 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.
Should commercial conveyancing searches reveal proposed roadworks that may impact a commercial land in Kensington?
Its becoming the norm that commercial conveyancing solicitors in Kensington will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Kensington. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Kensington.
For every commercial conveyancing transaction in Kensington it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can result in delays to Kensington commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Kensington.
I have recentlybeen informed that Arc property Solicitors have been shut down. They carried out my conveyancing in Kensington for a purchase of a leasehold apartment 12 months ago. How can I be sure that the property is registered correctly in the name of the former proprietor?
The easiest way to check if the property is registered to you, you can make 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 Kensington conveyancing specialists.
I am purchasing a new build house in Kensington with the aid of help to buy. The builders would not budge the amount so I negotiated 6k of fixtures and fittings instead. The sale representative told me not disclose to my solicitor about this deal as it will put at risk my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 have been sourcing a conveyancing practitioner in Kensington for my house move. Is it possible to check a solicitor's complaints history with the profession’s regulator?
You may find presented Solicitor Regulator Association (SRA) determinations stemming from inquisitions from 2008 onwards. Visit Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training purposes.