My wife and I are nearing an exchange on a flat in Hackbridge and my parents have sent the exchange deposit to my . I am now informed that as the deposit has been sent from someone other than me my needs to make a notification to my bank. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I informed the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your is legally required to clarify with lender to make sure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
My property lawyer in Hackbridge is not listed on the Conveyancing Panel. Is it possible for me to continue with my prefered solicitor notwithstanding that they are not on the panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your existing Hackbridge lawyers but will need to retain a conveyancer on their panel. This will result in additional overall legal charges as well as result in delays.
- Get an alternative practitioner to act in the purchase, obviously checking they are on the panel
I used Stirling Law several years past for my conveyancing in Hackbridge. Now, I need my files but the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Hackbridge of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Hackbridge differ for new build properties?
Most buyers of new build or newly converted property in Hackbridge approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Hackbridge tend to acquire the land, 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 property lawyers 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 used to new build conveyancing in Hackbridge or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a property in Hackbridge ahead of appointing lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some lenders tend not issue a mortgage on such a house.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Hackbridge. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hackbridge to see if the conveyancing costs will increase in light of this.