My husband and I are getting closer to an exchange on a flat in Palmers Green and my parents have transferred the 10% deposit to my conveyancer. I am now advised that as the deposit has been received from someone other than me my conveyancing practitioner 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 coming from anyone other than me. I disclosed to the lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
Your conveyancer is legally required to check with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
My wife and I are in the process of looking at houses in Palmers Green and I am now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a home loan with Barclays.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are obtaining a mortgage with Barclays, ask your prospective lawyers if they are on the Barclays conveyancing panel otherwise they can't do the mortgage legal work.
I have paid off my mortgage with Clydesdale. I assume I don't need a Palmers Green conveyancing practitioner on the Clydesdale panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Clydesdale 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 Clydesdale mortgage from the register. Clydesdale, 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 Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Palmers Green building society branch on a couple of occasions and was advised it wasn't an issue and they will lend. My Palmers Green conveyancing solicitor - who is on the bank conveyancing panel- called to say that they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Your lawyer must follow the Council of Mortgage Lenders’ Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I purchased a 4 bedroom Victorian property in Palmers Green. Conveyancing solicitor represented me and Nottingham Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold under the exact same property. Is it worth asking Nottingham Building Society to clarify?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Palmers Green and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with your conveyancing practitioner who conducted the purchase.
Due to the encouragement of my in-laws I had a survey completed on a house in Palmers Green prior to retaining lawyers. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some banks may refuse to grant a mortgage on this type of property.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. If you contact us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Palmers Green. Conveyancing may be slightly more expensive based on your lender's requirements.
Me and my partner have today had a bid accepted on our 1st house in Palmers Green, and need to get solicitors instructed. We have utilised the various rating tools and the results are from all across the the UK. Is it critical to have a Palmers Green lawyer local to our prospective new home? I am happy to do all the communicating over the internet, but I assume at some stage we may be required to attend the property lawyer's office to sign contracts?
The conveyancing practitioner does not need to be in Palmers Green, but opting for local means that you can attend their offices if needed, for instance, if a signature is needed urgently. In addition, a Palmers Green solicitor have established relationships with local agents and (if the vendor has instructed a local solicitor) with them, which will help keep things moving faster.