The Cranham conveyancing firm handling our Cranham conveyancing has discovered an inconsistency between the assumptions in the valuation survey and what is revealed within the title deeds. My lawyer says that he is duty bound to check that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
It has been five months since my purchase conveyancing in Cranham took place. I have checked the Land Registry site which shows that I paid £150,000 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 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 Cranham differ for newly converted properties?
Most buyers of new build premises in Cranham approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is finished. This is because house builders in Cranham usually acquire 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 accustomed to new build conveyancing in Cranham or who has acted in the same development.
I have been recommended by numerous property agents in Cranham to find a solicitor using your seach tool. Is there a financial inducement for Estate Agents to offer your site over and above a competitor’s?
We refuse to give any referral fee for pointing buyers and sellers to this site. We found it would be just too difficult a fee because a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
Am I best advised to instruct a Cranham conveyancing solicitor who is local to the property I am purchasing? An old friend can conduct the legal work but they are based 300miles drive away.
The benefit of a local Cranham conveyancing practice is that you can visit the firm to sign paperwork, hand in your ID and apply pressure on them where appropriate. Having local Cranham know how is a benefit. That being said it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and the majority were happy that should surpass using an unknown Cranham conveyancing lawyer solely due to them being based in the area.
My wife and I have recently had an offer agreed on a house and had meeting on Wednesday with Leeds Building Society for the mortgage. They have informed us that when it comes to appointing a solicitor that if they are not on their approved list of conveyancing practitioners then we will be subject to an a further charge of £200. This is is due to the fact that they will then have to appoint a property lawyer to act for them in addition to the one we appoint for ourselves and we assume responsibility for their invoice. I have requested Leeds Building Society to furnish me with a list so I can request quotes only from their approved solicitors but was told they dont have such a list to hand over. Is there a list online?
You can enquire of Leeds Building Society what their panel criteria is for a conveyancer.Then ask the conveyancer of your choice whether they fit that criteria and have they acted on loans for Leeds Building Society historically. If the answer to those is yes, then just double check with Leeds Building Society. Another option is to utilise our search tool and we should be able to find you a lawyer in Cranham on the approved list for Leeds Building Society.