My partner and I are approaching an exchange on a flat in Matlock and my parents have transferred the exchange deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my solicitor needs to disclose this to my lender. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your conveyancer is obliged to check with lender to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I know that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when purchasing a house in Matlock? or I am told that there is a law dating back centuries that could mean that house owners living in a parish church boundary may be liable to pay for repairs towards the chancel within the church. Is this a legitimate concern for conveyancing in Matlock?
Unless a prior purchase of the property took place post 12 October 2013 you may assume that conveyancing practitioners conducting conveyancing in Matlock to continue to recommend a chancel search and or insurance against a claim.
3 months have elapsed following my purchase conveyancing in Matlock took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Matlock differ for newly converted properties?
Most buyers of new build premises in Matlock approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Matlock typically buy the real estate, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Matlock or who has acted in the same development.
I have been Googling for Matlock online conveyancing estimates. Can I be assured that all the Matlock practices that are listed on your site are on the mortgage company conveyancing panel?
The law firms on our directory have advised us that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the lender panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific Matlock conveyancing solicitor being on the lender conveyancing panel is not accurate.