We are nearing an exchange on a property in Moor Row and my mum and dad have sent the ten percent deposit to my property lawyer. I am now told that as the deposit has been sent from someone other than me my lawyer needs to disclose this 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 not just from me. I informed the mortgage company about my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
The lawyer is obliged to clarify with the bank to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
My wife and I are close to exchanging contracts on the sale of our house in Moor Row and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any local lawyer would know that there is no such problem. It does beg the question why the buyers instructed a web based conveyancing outfit as opposed to a conveyancing solicitor in Moor Row. Having lived in Moor Row for 5 years we know that this is a non issue. Do we get in touch with our local Authority to obtain confirmation need.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I decided to have a survey completed on a property in Moor Row before retaining solicitors. I have been advised that there is a flying freehold aspect to the property. My surveyor has said that some banks tend refuse to grant a mortgage on this type of property.
It depends who your proposed lender is. Lloyds has different requirements for example to Nationwide. Should you wish to telephone us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Moor Row. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Moor Row to see if the conveyancing will be more expensive.
Am I right to be wary that brokers that I am dealing with are suggesting a web based conveyancing firm as opposed to a local Moor Row conveyancing practice?
As with many service providers, often referrals from family and friends can be extremely useful or valuable. But there are lots of players in a conveyancing transaction; estate agents, financial adviser and lenders may recommend lawyers to retain. Sometimes the conveyancers might be known to one of the organisations as experts in their field, but sometimes there is an underlying commercial relationship behind the recommendation. You have the discretion to select your own lawyer. You need to be aware that some mortgage providers have an approved list of law firms you must use for the mortgage aspect of your transaction.
Should I use a Moor Row conveyancing lawyer in close proximity to the house I am hoping to buy? An old friend can carry out the legal formalities but her office is 300miles away.
The primary upside of using a high street Moor Row conveyancing firm is that you can drop in to sign paperwork, hand in your identification documents and apply pressure on them if necessary. They will also have local knowledge which is a benefit. That being said it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and they were impressed that should outweigh using an unknown Moor Row conveyancing lawyer just because they are round the corner.