We are nearing an exchange on a property in Boreham and my parents have transferred the exchange deposit to my property lawyer. I am now informed that as the deposit has not come from me my property lawyer needs to make a notification to my bank. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the lender about my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
The conveyancing practitioner is obliged to check 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 reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
We see that you have a post code search directory listing firms on the Coventry BS conveyancing panel. Do firms pay you a referral fee if I retain them for our conveyancing in Boreham?
We are a listing service only for law firms wishing to communicate if they are on the Coventry BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Boreham.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The solicitors who handled the conveyancing in Boreham 4 years ago are no longer around. What are my next steps?
As long as you have a registered title the details of your ownership will be recorded by HMLR with a Title Number. It is possible to execute a search at the Land Registry, identify your property and order up to date copies of the property title for less than a fiver. If the property is Leasehold then the Land Registry will usually retain a file copy of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
How does conveyancing in Boreham differ for newly converted properties?
Most buyers of new build or newly converted property in Boreham come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is finished. This is because new home sellers in Boreham tend to acquire the site, 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 conveyancers 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 Boreham or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Boreham in advance of appointing solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some lenders tend refuse to give a loan on a flying freehold house.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Boreham. Conveyancing will be smoother if you use a solicitor in Boreham especially if they are accustomed to such properties in Boreham.