We are approaching an exchange on a flat in Marford and my mum and dad have sent the 10% deposit to my solicitor. I am now advised that as the deposit has not arrived from me my property lawyer needs to make a notification to my mortgage company. I am advised that, in also acting for the lender 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 hold matters up?
Your solicitor is legally required to clarify with the bank to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your bank if you agree, failing which, your lawyer must cease to continue acting.
My Conveyancer in Marford has never been on on the Virgin Money Conveyancing Panel. Is it possible for me to use my prefered solicitor notwithstanding that they are excluded from the Virgin Money panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your preferred Marford lawyers but Virgin Money will need to retain a lawyer on their list of acceptable firms. This will result in additional overall conveyancing charges as well as cause frustration.
- Find an alternative practitioner to to deal with the purchase, not forgetting to check they are Virgin Money approved.
- Try to convince your Virgin Money solicitor to seek to join the Virgin Money panel
I am being advised by my conveyancer that flying freehold insurance is required on my purchase. What is the level of cover for Marford conveyancing?
The right level of flying freehold indemnity insurance depends on who your lender is. It would differ for example between National Westminster Bank and The Mortgage Works. Conveyancing practitioners as opposed to borrowers take out such insurances.
I am selling my house. I had a double glazing fitted in August 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Clydesdale are being problematic. The Marford solicitor who is on the Clydesdale conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Barclays have agreed my home loan in principle, my bid on a flat in Marford has been accepted, what are the next steps?
The property agent will want to know who your solicitors are (make sure the conveyancing practitioners are on the bank’s approved list). Telephone Barclays or the financial adviser and finalise any appropriate forms. Barclays will sellect a valuer who will get in contact with the estate agent or owners to arrange a slot for the valuation to happen. Once conducted (assuming no problems) it takes on average a week to receive the mortgage offer. Barclays will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Marford.
Due to the guidance of my in-laws I had a survey completed on a house in Marford ahead of retaining lawyers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks will refuse to issue a loan on such a house.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. If you call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Marford. Conveyancing may be slightly more expensive based on your lender's requirements.
I am planning to acquire a house and need a conveyancing solicitor in Marford who is on the lender approved panel. Could you point me in the right direction as regards a Marford conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the bank who carry out conveyancing in Marford. We dont recommend any particular conveyancing practice.