My partner and I are approaching an exchange on a house in Barking and my mum and dad have sent the exchange deposit to my property lawyer. I am now advised that as the deposit has been sent from someone other than me my conveyancing practitioner needs to make a notification to my lender. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company about my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your lawyer is duty bound to check with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only disclose this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Will lawyers ask for an advanced payment for conveyancing in Barking?
If you are buying a property in Barking your solicitor will request that you to provide them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the sale price then this should be needed shortly prior to exchange of contracts. The final balance that is due will be payable shortly before completion.
My grandfather passed away six months ago and as sole heir and executor I was left the property in Barking. The house had a relatively small loan left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Co-operative, pay off the mortgage. Is this possible?
If you plan to re-mortgage then Co-operative will insist on your using a conveyancer on the Co-operative conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Co-operative conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Co-operative mortgage is registered as a charge at the Land Registry.
My friend advised me that where I am purchasing in Barking I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Barking conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Barking around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Barking Education with plans and statistics, Local Amenities and other useful data regarding Barking.
In my capacity as executor for the estate of my father I am selling a residence in Monmouth but reside in Barking. My conveyancer (who is 260 kilometers from meneeds me to sign a statutory declaration before the transaction finalising. Could you suggest a conveyancing lawyer in Barking to witness and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are located in Barking