We are approaching an exchange on a house in Woodbridge and my mum and dad have transferred the 10% deposit to my property lawyer. I am now advised that as the deposit has been sent from someone other than me my lawyer needs to disclose this to my mortgage company. Apparently, in also acting for the lender he must advise 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 mortgage, so is it really appropriate for him to raise this?
The solicitor is duty bound to clarify with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
We are buying a property and require a conveyancing solicitor in Woodbridge who is on the TSB conveyancing panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for TSB . We don't recommend any particular firms conducting conveyancing in Woodbridge.
Do commercial conveyancing searches reveal proposed roadworks that may affect a commercial estate in Woodbridge?
Many commercial conveyancing solicitors in Woodbridge will conduct a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Woodbridge. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Woodbridge.
For every commercial conveyancing transaction in Woodbridge it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Woodbridge commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Woodbridge.
Are there restrictive covenants that are commonly identified during conveyancing in Woodbridge?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Woodbridge. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
My wife and I are acquiring a first floor flat in Woodbridge. At the point of instructing our property lawyer, they told us that they were on all major UK bank panels. Our mortgage broker emailed today to advise that they don't appear to be on the Yorkshire BS approved list. Should that be true, what should we do? Should we simply pick a different conveyancing practitioner that is on their approved list or do we cover the costs for dual representation, with Yorkshire BS appointing their own preferred lawyer.
When purchasing a property with the benefit of a mortgage it is conventional for the buyer’s solicitors to also act for the mortgage company. In order to act for a bank or building society a property lawyer has to be on that lender's list of approved lawyers. An application has to be made by the property lawyer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the conveyancer has to fulfill. Some banks now insist their panel firms to be part of the Law Society’s Conveyancing Quality Scheme. Your conveyancer should contact Yorkshire BS and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on Yorkshire BS's conveyancing panel and you may continue to use your own Woodbridge solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another conveyancer into the equation.