We're in Camelford, First time buyers purchasing with a mortgage (lender is Kent Reliance , and our solicitor is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am buying a property and the conveyancer has identified Chancel Repair for which the property could be obligated to pay as it falls into the area of such a church. She has recommended insurance. Is this strictly required for conveyancing in Camelford
Unless a previous acquisition of the property completed post 12 October 2013 you can take it that solicitors carrying out conveyancing in Camelford to continue to propose a a chancel search and or chancel repair liability insurance.
It has been 4 months since my purchase conveyancing in Camelford completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Camelford differ for newly converted properties?
Most buyers of new build residence in Camelford come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Camelford usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Camelford or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £245,000 and identified one round the corner in Camelford I like with amenity areas and station nearby, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Camelford suitable, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan the remaining unexpired lease term will likely be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.