Having sold my house in Borehamwood last January but my buyer keeps telephoning me to say their solicitor needs to hear from mysolicitor. What should have happened now that I have sold?
Following your sale your solicitor should forward the transfer deeds and all of the paperwork to the buyer’s conveyancer. If applicable, your solicitor should also confirm that the home loan has been repaid to the buyers solicitors. There are no post completion procedures peculiar conveyancing in Borehamwood.
Is there a search tool that I can utilise to discover of the solicitor carrying out my conveyancing in Borehamwood is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Virgin Money thus spending £187.00 plus VAT in additional conveyancing bill.
You should make use of the search tool on this web page. Please choose the lender and type ‘Borehamwood’ or your preferred area and you will see numerous conveyancers offices in Borehamwood or nearest you.
Are all Borehamwood Conveyancing Quality Solicitors on the Bank of Ireland conveyancing list of approved firms?
A selection of lenders now utilise CQS as the kick off point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.
The mortgage over my property is with Virgin Money for my property in Borehamwood. Conveyancing was finalised months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Virgin Money?
Virgin Money must be informed of your intention before renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. It may be that Virgin Money will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel lawyer.
I recently had an offer agreed on a house in Borehamwood. My financial adviser pressured me to appoint their property lawyer. I paid an on account payment of £200. Not long after, the conveyancer contacted me sheepishly admitting that they were not on the Leeds Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Leeds Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
It has been 3 months since my purchase conveyancing in Borehamwood took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. 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.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a quick, chain free conveyancing. Borehamwood is the location of the property. Is there any advice you can impart?
Flying freeholds in Borehamwood are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Borehamwood you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Borehamwood 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 residence.
How easy is it to change a solicitor as I need to find a Borehamwood based one who is on the lender conveyancing panel. Is it practical to instruct different lawyers?
In the event that you have not formally instructed a solicitor to start work and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Borehamwood that you're considering.