My wife and I are only a couple days away from an exchange on a property in Lyddington and my parents have transferred the exchange deposit to my solicitor. I am now informed that as the deposit has been sent from someone other than me my conveyancing practitioner needs to make a notification to my mortgage company. 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 disclosed to the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The property lawyer 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. The solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
It is 10 years ago since I acquired my property in Lyddington. Conveyancing solicitors have now been instructed on the sale but I am unable to locate my title documents. Is this a major issue?
Don’t worry too much. Firstly the deeds may be kept by your lender or they could be archived with the lawyers who oversaw the purchase. Secondly the likelihood is that the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. Almost all conveyancing in Lyddington relates to registered property but in the rare situation where your home is unregistered it adds to the complexity but is not insurmountable.
I am purchasing a semi-detached house in Lyddington. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Lyddington you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Lyddington.
I have today made my last payment due on my mortgage with Clydesdale. I assume I don't need a Lyddington property lawyer on the Clydesdale panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Clydesdale mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Clydesdale mortgage from the register. Clydesdale, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
About to purchase apartment in Lyddington. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Lyddington conveyancing practitioner is on the Coventry BS conveyancing panel.
Our sealed bid on a detached house in Lyddington has been agreed to, the owners do nevertheless have an associated purchase. The vendors have placed an offer on a property, but it’s not yet agreed to, and are looking at other properties booked. I have chosen a bricks and mortar conveyancing solicitor in Lyddington. What should be my next step? When should I get the mortgage application with Virgin Money going?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then survey, Lyddington conveyancing search charges, etc). The first course of action is to check that your solicitor is on the Virgin Money conveyancing panel. As to the subsequent stages this very much dictated by the uniqueness of your case, attraction to this property and on the state of the market. In a buoyant market some buyers would apply for the mortgage with Virgin Money and arrange for the valuation and only if it comes back ok would they request their conveyancing practitioner to proceed with searches.
I need to instruct a conveyancing lawyer in Lyddington for my remortgage. Is it possible to check a solicitor's record with the profession’s regulator?
Members of the public can search for documented Solicitor Regulator Association (SRA) decisions arising from inquisitions commenced on or after 1 January 2008. Go to Check a solicitor's record. For details Pre 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training reasons.