My fiance and I are hoping to buy a 1 bedroom apartment in Cowfold with a mortgage from National Westminster Bank.We would like to retain our Cowfold conveyancing lawyer but National Westminster Bank advised that he's not listed on their approved list of member firms. We have to appoint a National Westminster Bank panel solicitor or keep our high street solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The home loan offered to you contains terms and conditions, a common one being that lawyers must be on the National Westminster Bank solicitor panel. Until recently, most banks had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for National Westminster Bank
What does a local search inform me about the property my wife and I purchasing in Cowfold?
Cowfold conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search company for example Searchflow The local search is essential in every Cowfold conveyancing purchase; as long as you don’t want any nasty once you have moved into your new home. The search should reveal data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
three months have elapsed following my purchase conveyancing in Cowfold concluded. I have checked the Land Registry website which shows that I paid £175,000 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 residence 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.
I opted to have a survey done on a house in Cowfold ahead of retaining lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor has said that some banks may refuse to grant a mortgage on a flying freehold home.
It depends who your proposed lender is. HSBC has different instructions from Halifax. Should you wish to telephone us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Cowfold. Conveyancing may be slightly more expensive based on your lender's requirements.
We're novice buyers - had an offer accepted, but the agent informed us that the vendor will only proceed if we use their recommended solicitors as they want an ‘expedited deal’. My instinct tells me that we should use a high street conveyancer with experience of conveyancing in Cowfold
We suspect that the owner is not behind this demand. If they desire ‘a quick sale', turning down a serious purchaser is going to damage their objectives. Bypass the agents and go straight to the sellers and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are unencumbered (d) you intend to proceed fast (e)however you intend to instruct your own,trusted Cowfold conveyancing solicitors - rather thanthe ones that will give their estate agent a referral fee or hit his conveyancing figures demanded by corporate headquarters.