My husband and I are only a couple days away from an exchange on a flat in Grove Park and my mum and dad have transferred the exchange deposit to my property lawyer. I am now informed that as the deposit has been received from someone other than me my solicitor needs to disclose this to my bank. I am advised that, 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 informed the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
Your solicitor is duty bound to check with mortgage company to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
I have been referred to a conveyancing solicitor in Grove Park. I I would like to check whether they are on the Coventry Building Society approved list of lawyers. Can you help?
You should contact the lawyer and enquire if they are on the lender panel. Alternatively please call Coventry Building Society who may be able to assist.
I am the single beneficiary of my late father’s estate with all property in now in my sole name, including the house in Grove Park. The Grove Park property was put into my name in June. I now wish to sell up. I understand that there is a CML 6 month 'rule', which means that my property ownership could be regarded the same way as if I'd bought the property in June. Do I have to wait half a year to sell?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. Some lenders would take a pragmatic view as this obligation is principally there to pick up on subsales or the quick reselling of properties.
After shopping around on the internet I have found a Grove Park solicitor having made sure that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Grove Park surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Lloyds have agreed my mortgage in principle, my offer on a flat in Grove Park has been accepted, now what?
Your estate agent will want to be advised as to your conveyancing practitioner's details (make sure the property lawyers are on the lender’s panel). Telephone Lloyds or the broker and finalise any relevant forms. Lloyds will sellect a valuer who will get in touch with the estate agent or owners to book an appointment. Once conducted (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Lloyds will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Grove Park.
I note that there are debates on Chancel Insurance on online forums. Do I require this when buying a residence in Grove Park? or I am told that there is a law dating back centuries that means some homeowners residing in a parish church boundary may be liable to pay for maintenance towards the chancel within the church. Is this appropriate for conveyancing in Grove Park?
Unless a previous purchase of the premises took place after 12 October 2013 you could expect conveyancing practitioners handling conveyancing in Grove Park to continue to recommend a chancel search and or insurance against a claim.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The conveyancers who did the conveyancing in Grove Park 4 years ago have long since closed. What do I do?
Gone are the days when you need to hold title original deeds to evidence that you are the owner of your registered land or premises, given that the Land Registry hold details of all registered land or property electronically.