My wife and I are nearing an exchange on a flat in Lansbury and my mum and dad have transferred the exchange deposit to my conveyancer. I am now informed that as the deposit has not come from me my lawyer needs to disclose this to my bank. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
The conveyancing practitioner is obliged to clarify with the bank to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
As someone unfamiliar with the Lansbury conveyancing process what’s the number one tip you can give me for the ownership transfer in Lansbury
You may not hear this from too many lawyers but conveyancing in Lansbury and elsewhere in England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there exists an abundance of room for conflict between you and others involved in the house moving process. E.g., the vendor, selling agent and on occasion a mortgage company. Selecting a lawyer for your conveyancing in Lansbury is a critical decision as your conveyancer is your adviser, and is the ONE party in the process whose interest is to act in your best interests and to keep you safe.
Every so often a potential adversary will attempt to persuade you that you should follow their advice. For instance, the estate agent may claim to be assisting by claiming that your conveyancer is slow. Or your financial adviser may tell you to do something that is contrary to your solicitors guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Lansbury is where the house is located. Can you shed any light on this issue?
Flying freeholds in Lansbury are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lansbury you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lansbury may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I was pointed in your direction by a few property agents in Lansbury to select a conveyancer using your seach tool. Is there a financial advantage for Estate Agents to recommend your lawyers over and above a competitor’s?
We don’t offer any commission for pointing buyers and sellers our way. We thought it would be too underhand a fee as a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am looking for a conveyancing lawyer in Lansbury for my home move. Can I review a firm’s complaints history with the profession’s regulator?
Members of the public may find presented Solicitor Regulator Association (SRA) determinations stemming from inquisitions commenced on or after Jan 2008. Visit Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The SRA could monitor telephone calls for training requirements.