My partner and I are approaching an exchange on a flat in Stotfold and my mum and dad have sent the exchange deposit to my solicitor. I am now informed that as the deposit has not arrived from me my conveyancing practitioner needs to make a notification to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I advised the bank about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The property lawyer is legally required to check with mortgage company to ensure that they are aware 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.
I am purchasing a garden flat in Stotfold. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Stotfold 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 Stotfold.
Me and my partner are purchasing a flat in Stotfold. I might seem paranoid but how we can trust a lawyer? On completion day we will need to send funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have today made my last payment due on my mortgage with Nottingham. I assume I don't need a Stotfold property lawyer on the Nottingham panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nottingham 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 Nottingham mortgage from the register. Nottingham, 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 Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
After what feels like an age I have had an offer on an apartment in Stotfold agreed to, but there is a chain. The sellers have put an offer on on an apartment, but it’s not been accepted yet, and are looking at other flats in the pipeline. I have chosen a nearby conveyancing solicitor in Stotfold. What do I do now? When should I get the mortgage application with Aldermore started?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx £1k, then survey, Stotfold conveyancing search fees, etc). The first thing to do is check that your solicitor is on the Aldermore approved list. As to the next steps this very much depends on the specifics of your case, attraction to the property and on the state of the market. During a buoyant market some purchasers would apply for the mortgage with Aldermore and pay for the valuation and only if it was satisfactory would they request their conveyancer to move forward with the conveyancing in Stotfold.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The lawyers who handled the conveyancing in Stotfold 4 years ago no longer exist. What are my options?
You no longer need to have the physical original deeds to evidence that you are the owner of your registered land or premises, given that the Land Registry hold details of all registered land or property electronically.
We had our home loan approved last Friday with our bank. We instructed a reputable conveyancer in Stotfold last week. A couple of hours ago, our broker phoned to advise us that the mortgage company said that we cannot use our solicitor as they aren't on their 'approved list'. As novices, we had no idea that the mortgage company had some control over our choice Is this usual?
You can actually select any lawyer you prefer to choose for your conveyancing in Stotfold but if they are not on the your bank's panel you will have to fork out additional cost so the mortgage company can appoint their own conveyancer too. On occasion it is conceivable that your preferred conveyancing firm to get included on to the mortgage company panel. You can use online tools such as lenderpanel.com to find a conveyancing solcitor in Stotfold on the bank panel. You can go into your local mortgage company branch in Stotfold. They can recommend conveyancing solicitors in Stotfold on the panel for your mortgage company.