My husband and I are only a couple days away from an exchange on a house in Washwood Heath and my mum and dad have transferred the ten percent deposit to my conveyancing practitioner. I am now informed that as the deposit has been received from someone other than me my property lawyer needs to disclose this to my bank. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your solicitor is legally required to check with mortgage company to ensure 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 mortgage company if you agree, failing which, your lawyer must cease to continue acting.
My wife and I are purchasing a property in Washwood Heath. It might be a silly question but how we can trust a lawyer? At some point we have to put money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
When it comes to mortgage companies such as Skipton, do Washwood Heath lawyers incur a fee to be on the list of approved solicitors?
We are unaware of any lender fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
Can you point me to a directory of Kent Reliance panel conveyancers in Washwood Heath on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lenders make their panel listings available on the web. If you are looking for a Washwood Heath lawyer on the Kent Reliance please use our tool.
How does conveyancing in Washwood Heath differ for new build properties?
Most buyers of new build premises in Washwood Heath approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is constructed. This is because house builders in Washwood Heath usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Washwood Heath or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, no chain conveyancing. Washwood Heath is where the house is located. What do you suggest?
Flying freeholds in Washwood Heath are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Washwood Heath you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Washwood Heath may decide 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 premises.
Am I better off to choose a Washwood Heath conveyancing practitioner in close proximity to the house I am hoping to buy? I have an old university friend who can execute the conveyancing but they are based 300miles drive away.
The primary upside of using a high street Washwood Heath conveyancing firm is that you can pop in to sign paperwork, present your identification documents and pester them if necessary. They will also have local intelligence which is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and they were happy that must trump using an unknown Washwood Heath conveyancing lawyer just because they are based in the area.