I am nearing an exchange on a house in Old Stratford and my mum and dad have transferred the exchange deposit to my lawyer. I am now advised that as the deposit has been received from someone other than me my lawyer needs to make a notification to my bank. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the bank regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
The conveyancer is duty bound to check with lender to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
When it comes to lenders such as TSB, do Old Stratford conveyancing practitioners incur a fee to be on the list of approved solicitors?
We are unaware of any bank fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
We are getting the release of further funds on our home loan from Bank of Ireland as we want to carry out renovations to our house in Old Stratford. Do we need to select a bricks and mortar Old Stratford solicitor on the Bank of Ireland conveyancing panel to deal with the paperwork?
Bank of Ireland would not normally require a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Bank of Ireland conveyancing panel.
We have agreed to purchase a house in Old Stratford. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nationwide be concerned?
Given that you are obtaining a mortgage with Nationwide your lawyer must follow the conveyancing instructions contained in Section 2 of UK Finance Lenders’ Handbook for Nationwide. The CML Handbook contains minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Nationwide where a lease fails to satisfy these requirements. The conditions relate to the installation of panels on properties countrywide and is not limited to Old Stratford.
My friend recommended that where I am purchasing in Old Stratford I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes included in the estimate for your Old Stratford conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Old Stratford around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Old Stratford Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful data concerning Old Stratford.
Despite weeks of looking the Title Certificate and documents to our home are lost. The solicitors who dealt with the conveyancing in Old Stratford 5 years ago no longer exist. Will I be able to sell the house?
These day there are duplicates made of almost everything, and your conveyancer should know precisely where to locate all the relevant paperwork so you can purchase or dispose of your house without a hitch. If copies can’t be located, your lawyer can arrange cover in the form of insurance or indemnities protecting you against possible claims on your premises.
How does the Landlord & Tenant Act 1954 impact my business offices in Old Stratford and how can you help?
The particular law that you refer to gives a safeguard to business tenants, granting the legal entitlement to apply to court for a renewal lease and continue in occupation when the lease reaches an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Old Stratford is one of the numerous areas of the UK in which the firms we work with are located