My partner and I are looking to purchase a home in Henbury and are in fact using a Henbury conveyancing firm. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. The Mortgage Works have this afternoon contacted us to advise us that they have now hit a problem as our Henbury lawyer is not on their approved list of lawyers. What do we do from here?
Where you are buying a property needing a mortgage it is conventional for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Henbury lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Henbury. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 19/4/2024, the requirements read as follows :
My relative suggested that if I am buying in Henbury I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Henbury conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Henbury around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Henbury 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 information about Henbury.
It has been 3 months following my purchase conveyancing in Henbury took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Henbury is the location of the property. Can you offer any advice?
Flying freeholds in Henbury are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Henbury 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 Henbury may decide 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 premises.
My brother has suggested that I instruct his conveyancing solicitors in Henbury. Do I follow his advice?
Much as we are happy to recommend a Henbury conveyancing lawyer the ideal way to find a conveyancing practitioner is to get feedback from friends or family who have previously instructed the solicitor you're contemplating using.