My partner and I are approaching an exchange on a flat in Hurstpierpoint and my parents have sent the exchange deposit to my conveyancer. I am now advised that as the deposit has been received from someone other than me my conveyancing practitioner needs to disclose this to my lender. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I advised the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The conveyancing practitioner is legally required to check with the bank to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
The Hurstpierpoint conveyancing firm that I recently instructed on my house acquisition in Hurstpierpoint have suddenly shut down. I only went with them because I needed a firm on the Yorkshire BS conveyancing panel and my previous Hurstpierpoint lawyer was not. I wrote them a cheque for two hundred pounds in advance. What do I do now?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Yorkshire BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
Should our conveyancer be raising questions concerning flooding during the conveyancing in Hurstpierpoint.
Flooding is a growing risk for lawyers dealing with homes in Hurstpierpoint. There are those who purchase a property in Hurstpierpoint, fully aware that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not best placed to offer advice on flood risk, however there are a various searches that can be initiated by the purchaser or on a buyer’s behalf which should figure out the risks in Hurstpierpoint. The conventional set of property information forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the seller to find out if the premises has suffered from flooding. If the property has been flooded in past which is not revealed by the seller, then a buyer may issue a compensation claim as a result of such an incorrect reply. The purchaser’s conveyancers may also conduct an environmental search. This should indicate if there is a recorded flood risk. If so, more detailed inquiries will need to be carried out.
My husband and I are 3 weeks into a leasehold purchase having been directed to a firm by the estate agent to carry out the conveyancing in Hurstpierpoint. I am not happy. Could you you assist me in finding new solicitors?
They would have to be very poor in order to consider replacing them. Has the mortgage been sent? In the event that it has you will need to make them aware of the new lawyer and get the mortgage documents are re-issued. Your conveyancer needs to be on the banks panel to avoid added charges and complications. That should be your first question of the new conveyancers. Our search tool can help you find a bank approved lawyer for your conveyancing in Hurstpierpoint
Do online conveyancing organisations undertake everything a local Hurstpierpoint solicitor does or must I employ a solicitor for the final stages for my conveyancing in Hurstpierpoint?
If you instruct an online conveyancer they should cover all the work your Hurstpierpoint conveyancer will cover.