We're in Longfield, First time buyers purchasing with a mortgage (lender is Coventry BS , and our solicitor is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS 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.
My partner and I are downsizing from our property in Longfield and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. A local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers instructed a national conveyancing outfit as opposed to a conveyancing solicitor in Longfield. We have lived in Longfield for many years we know that this is a non issue. Should we get in touch with our local Authority to seek clarification that the buyers are looking for.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
It has been 2 months following my purchase conveyancing in Longfield took place. 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 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.
Over the last few months I have been searching for a flat up to £305k and found one close by in Longfield I like with amenity areas and railway links nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Longfield in this price bracket, 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 shortness of the lease will likely be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 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 and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
Is there a reason that Longfield conveyancing fees are higher for leasehold and freehold properties?
Inevitably there is more work necessary for leasehold conveyancing. Longfield has many leasehold properties. There is more time involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.