We are purchasing a 2 bedroom flat in New Invention with a mortgage. We have a New Invention solicitor, but the lender advise he's not on their "panel". We have to appoint one of the lender panel solicitors or continue with our New Invention lawyer as well as pay for one of their panel firms to represent them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders 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. Another option that might be available is for your New Invention conveyancing lawyer to apply to be on the conveyancing panel.
Please could you vouch for a Alliance & Leicester sanctioned New Invention conveyancing practice who can have us moved in within a short deadline? Am I best advised to go for a high street New Invention practice or an online firm?
We would be happy to suggest some excellent New Invention conveyancing firms. Another option is to visit the high street in New Invention. Visit two or three firms and ask to see a conveyancing solicitor for a costs illustration. Mention your requirements together with your reasons and get a commitment on speed. Choose the one that appears most efficient.
How up to date is your search tool for New Invention conveyancing solicitors on the Leeds Building Society conveyancing panel? Do Leeds Building Society send you an updated list?
New Invention conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
four months have gone by since my purchase conveyancing in New Invention concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. New Invention is the location of the property. Can you offer any guidance?
Flying freeholds in New Invention are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside New Invention you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in New Invention may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.