We are hoping to buy a 2 bedroom flat in Elmers End with a residential mortgage from Skipton Building Society.We would like to retain our Elmers End conveyancing solicitor but Skipton Building Society informed us she’s not listed on their approved list of member firms. It seems we have little choice but to instruct a Skipton Building Society panel lawyer or keep our local solicitor and fork out for a Skipton Building Society panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that Skipton Building Society use our lawyer?
No, not really. The home loan offered to you contains various provisions, one of which will be that solicitors will be on the Skipton Building Society approved list. Until recently, most lenders 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Skipton Building Society
My bid for a property was accepted at auction in Elmers End. Conveyancing is needed. What is next?
Having for all intents and purposes signed on the dotted line you now have to hire the services of a conveyancing lawyer quickly as you will have a fast approaching a fixed date to complete the transaction. Every auction property will have a corresponding auction set of papers. This will include most,if not all of the documents that your solicitor requires. Where you are dealing with leasehold property the conveyancing pack may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to a leasehold property. You should give this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that you have funds in order to complete the transaction on the set completion date.
My solicitor has informed me that chancel insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Elmers End?
The appropriate level of chancel indemnity insurance should be dictated by who your lender. It would differ for example between Nationwide Building Society and Coventry Building Society. Conveyancing practitioners as opposed to members of the public take out such insurances.
I have today made my last payment due on my mortgage with Santander. I assume I don't need a Elmers End lawyer on the Santander panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Santander mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Santander mortgage from the register. Santander, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Santander has sent the Land Registry the discharge electronically, and
- Santander has instructed the Land Registry to do so
It has been four months following my purchase conveyancing in Elmers End concluded. 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 Elmers End differ for newly converted properties?
Most buyers of new build property in Elmers End come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because house builders in Elmers End 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 accustomed to new build conveyancing in Elmers End or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a house in Elmers End ahead of retaining solicitors. I have been told that there is a flying freehold aspect to the property. The surveyor advised that some mortgage companies will refuse to issue a loan on such a house.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Elmers End. Conveyancing may be slightly more expensive based on your lender's requirements.
My parents are encountering problems in finding their Elmers End property on the HM Land Registry online search facility. They recall that 50 years ago when they purchased the house there were complications concerning the address not being identified on some systems.
Almost all properties in Elmers End should be revealed. Have you tried a search with simply the postcode. Normally it will identify all the properties within the postcode. Assuming the property is recorded it will be there with a title number. If they bought fifty years ago it's conceivable it may be unrecorded. The property could still be revealed but with the title number identified as 'na'. In this scenario you will need to track down the original title documentation which may be with your parent’s mortgage company.