My husband and I are buying a ground floor flat in Somerstown. My Conveyancer has never been on on the lender solicitor panel. Can I still retain my Somerstown conveyancing solicitor notwithstanding that they are excluded from the bank panel of approved conveyancing solicitors?
One will need to use a property lawyer to complete the formalities if you need a mortgage to purchase your home. The conveyancer will carry out all the appropriate investigations on the property, make sure that you’re properly registered as the owner and ensure that all the required mortgage paperwork is in place. One could instruct a Somerstown solicitor of your choice. Nevertheless, where the property lawyer selected is not on the lender conveyancing panel additional fees will arise as separate legal representation will be need by the bank. Bank panel applications can be submitted, so provided your solicitor has not historically sought membership they should take the chance to apply.
Me and my partner are purchasing a flat in Somerstown. I might seem paranoid but how we can trust a conveyancer? On the day of competition we have to deposit our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We are purchasing a detached bungalow in Somerstown. The intention is to an extension at the rear at the house.Will legal work on the property involve checks to ascertain if these alterations are allowed?
Your conveyancer should review the deeds as conveyancing in Somerstown will occasionally reveal restrictions in the title documents which restrict certain alterations or necessitated the consent of a 3rd party. Certain extensions need local authority planning consent and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
I had a mortgage agreed in principle with Co-operative. Somerstown conveyancing solicitors are selected. What is the average time that one could expect to receive a mortgage offer from Co-operative?
There is no definitive answer here. Have Co-operative completed the survey? Have you advised Co-operative as to your lawyers' details and checked that your lawyers are on the Co-operative conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
It has been 2 months since my purchase conveyancing in Somerstown took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. 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 Somerstown differ for newly converted properties?
Most buyers of new build property in Somerstown approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Somerstown typically 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 property lawyers 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 Somerstown or who has acted in the same development.
I opted to have a survey done on a property in Somerstown before instructing solicitors. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies may not issue a loan on this type of house.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. Should you wish to telephone us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Somerstown. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Somerstown to see if the conveyancing will be more expensive.