My fiance and I are planning to acquire a home in Coulsdon and have appointed a Coulsdon conveyancing firm. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Coventry Building Society have this morning contacted us to inform me that there is now an issue as our Coulsdon solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also represent the mortgage company. 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 property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Coulsdon lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Would the conveyancing practitioners indexed on your site perform right to buy conveyancing in Coulsdon?
We do have a number of conveyancing firms who can conduct right to buy conveyancing You should call the lawyers listed in order to secure a conveyancing quote.
What can a local search tell me about the house we're buying in Coulsdon?
Coulsdon conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations for example PSG The local search plays a central part in many a Coulsdon conveyancing purchase; that is if you don’t want any nasty surprises after you move into your new home. The search will provide data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
three months have gone by since my purchase conveyancing in Coulsdon took place. I have checked the Land Registry website 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 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 Coulsdon differ for newly converted properties?
Most buyers of new build residence in Coulsdon come to us having been asked by the seller to sign contracts and commit to the purchase even before the premises is constructed. This is because builders in Coulsdon typically purchase 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 conveyancers 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 Coulsdon or who has acted in the same development.
Should I choose a Coulsdon conveyancing practitioner based in the area that I am buying? I have an old university friend who can perform the conveyancing but his firm is located 300miles away.
The benefit of a local Coulsdon conveyancing practice is that you can attend the office to execute paperwork, hand in your ID and pester them where appropriate. Having local Coulsdon know how is a plus. However nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and on the whole were impressed that should outweigh using an unknown Coulsdon conveyancing lawyer solely due to them being local.