My wife and I are nearing an exchange on a flat in Scunthorpe and my parents have sent the ten percent deposit to my solicitor. I am now advised that as the deposit has not come from me my conveyancing practitioner needs to make a notification to my lender. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I advised the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your property lawyer is obliged to clarify with the bank to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the Kent Reliance Conveyancing panel ahead of completing my conveyancing in Scunthorpe?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Scunthorpe is the location of the property. Is there any advice you can give?
Flying freeholds in Scunthorpe are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Scunthorpe you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Scunthorpe 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.
I am downsizing from my house. My previous conveyancers have shut. I am in need of a recommendation of a conveyancing firm. I happen to live in Scunthorpe if that affects matters.
Please use our search tool to help you choose a solicitor for your conveyancing in Scunthorpe. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
I need to retain a conveyancing solicitor for purchase conveyancing in Scunthorpe. I've chance upon a web site which seems to have the perfect offering If there is a chance to get all this stuff completed via web that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?