Unfortunately I am unable to travel far from Crediton. Please spell out why all Crediton conveyancers aren't included on all mortgage company panels?
Mortgage companies highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. It resulted in banks and building societies purging less reputable firms off their panel of approved conveyancing practitioners .
When can the exchange of contracts happen for sale conveyancing in Crediton and am I required to attend the lawyers branch?
Where you are in close proximity to one of the conveyancing solicitors in Crediton you are invited in to sign the paperwork. However, the firms we work with supply a nationwide conveyancing service and give as equally diligent and professional a job for you when dealing with you electronically. The signing of the property agreement is not the critical part. Signing on the dotted line simply enables the firm to exchange contracts when the time is right, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Crediton)to be in the office available at the end of the phone to exchange contracts.
4 months have gone by following my purchase conveyancing in Crediton concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 premises 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.
Over the last few months I have been searching for a flat up to £195,000 and identified one round the corner in Crediton I like with a park and station nearby, however it's only got 61 years on the lease. There is not much else in Crediton for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the mortgage company conveyancing panel. My lawyer has said that they are on the bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the lender conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the mortgage company solicitor panel.