My fiance and I are purchasing a newbuild apartment in Walton on the Naze with a loan from Accord Mortgages Ltd.We like our Walton on the Naze conveyancing solicitor but Accord Mortgages Ltd says he's not on their "panel". It seems we are left with little choice but to instruct a Accord Mortgages Ltd panel firm or keep our preferred solicitor and fork out for a Accord Mortgages Ltd panel lawyer to act for them. This seems very unfair; Can we not simply insist that Accord Mortgages Ltd use our lawyer?
No, not really. The home loan offered to you is subject to its terms and conditions, a common one being that lawyers must be on the Accord Mortgages Ltd approved list. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find 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 solicitors to apply to be on the conveyancing panel for Accord Mortgages Ltd
My friend recommended that if I am purchasing in Walton on the Naze I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Walton on the Naze conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Walton on the Naze around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Walton on the Naze Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data about Walton on the Naze.
It has been four months following my purchase conveyancing in Walton on the Naze took place. I have checked the Land Registry website which shows that I paid £175,000 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 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.
How does conveyancing in Walton on the Naze differ for new build properties?
Most buyers of new build residence in Walton on the Naze contact us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is built. This is because new home sellers in Walton on the Naze tend to buy the real estate, 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 accustomed to new build conveyancing in Walton on the Naze or who has acted in the same development.
My mum and dad are having problems in finding their Walton on the Naze land registry title on the site. They have a vague recollection 50 years ago when they bought the house there were complications regarding the post code not being recognised in some systems.
The vast majority of premises in Walton on the Naze should be revealed. Have you tried a search with just the postcode. Usually it should identify all the residences within that postcode. Assuming the property is recorded it will be there with a title number. If they bought back in the 70’s it's conceivable it may be unrecorded. The property could still be revealed but with the title number identified as 'na'. In this scenario you will need to track down the original title deeds which may be with your parent’s bank.