My wife and I are only a couple days away from an exchange on a flat in Minera and my mum and dad have sent the exchange deposit to my lawyer. I am now told that as the deposit has not arrived from me my conveyancer needs to make a notification to my lender. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
The conveyancing practitioner is duty bound to check with the bank to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel lawyer as I would prefer to instruct a Minera based conveyancing firm?
You should check but the the probability is that allocate you one of their panel solicitors where you want the "fee-free" deal. Call the mortgage company and see if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Minera.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a simple, no chain conveyancing. Minera is where the house is located. Can you offer any assistance?
Flying freeholds in Minera are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Minera you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Minera may determine 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 premises.
I have been pointed in your direction by a few estate agents in Minera to get a quote from a property lawyer on your site. Is there a financial incentive for Estate Agents to market your services rather than alternative conveyancing organisations?
We don’t make any financial incentive for directing people in our direction. We thought it would be too underhand a fee as members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
We're FTB’s - had an offer accepted, but the estate agent told us that the owners will only proceed if we instruct the agent's preferred solicitors as they want an ‘expedited deal’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Minera
It is highly unlikely the sellers are driving this. If they require ‘a quick sale', taking such a hostile approach to a motivated purchaser is is going to put the whole deal at risk. Contact the vendors directly and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you are going to instruct your own,trusted Minera conveyancing firm - not the ones that will earn their estate agent a kickback or hit his conveyancing thresholds demanded by senior management.