I am obtaining a offer of a home loan from Nat West. I intend to use a Licensed Conveyancer in Callington. Does the Nat West Solicitor panel allow for Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
we are a couple who are buying a newly converted flat in Callington with a loan from The Royal Bank of Scotland.We have a Callington conveyancing solicitor but The Royal Bank of Scotland informed us her practice is not on their "panel". we are left little option but to use a The Royal Bank of Scotland panel firm or keep our preferred solicitor and pay for a The Royal Bank of Scotland panel lawyer to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage issued to you contains various provisions, one of which will be that solicitors will be on the The Royal Bank of Scotland approved list. Until recently, most banks had large numbers of solicitors 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 lawyer to apply to be on the conveyancing panel for The Royal Bank of Scotland
It has been 4 months since my purchase conveyancing in Callington took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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 asset 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 Callington differ for new build properties?
Most buyers of new build residence in Callington approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is built. This is because house builders in Callington usually acquire 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 conveyancing solicitors 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 Callington or who has acted in the same development.
My husband and I are new to the buying process - had an offer accepted, yet the estate agent has warned us that the vendor will only go ahead if we instruct the agent's chosen lawyers as they need an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer who is familiar with conveyancing in Callington
We suspect that the owner is not behind this ultimatum. Should the vendor require ‘a quick sale', alienating a genuine purchaser is is going to put the whole deal at risk. Speak to the owners direct and explain that (a)you are serious purchasers (b)you are ready to go, with finances arranged © you are chain free (d) you wish to move quickly (e)however you will continue to use your own,trusted Callington conveyancing firm - rather thanthe ones that will give their negotiator at the agency a kickback or achieve conveyancing thresholds set by senior management.
My partner and I plan to acquire our 1st property in Callington. Conveyancing solicitor has been appointed. The financial consultant pointed out that a survey is not appropriate as the house was only constructed in 1997.
At the very least you should have a Home Buyer's Report. Given the property was constructed over a decade ago the property will not come with a warranty, so you would be well advised not to take a risk. For a property that age with no signs of problems a Home Buyer's report could suffice. The report should highlight any obvious problems and suggest further investigation if appropriate. Where there are any signs of problems get a full Building Survey from the beginning.