I am buying a house without a mortgage in Elmstead. I have resided for the previous 20 years in Elmstead. Conveyancing searches are exorbitant. Given that I know the area and road very well must I have all the conveyancing searches?
In the absence of a home loan, then all but one or two of the Elmstead conveyancing searches are non-obligatory. Your lawyer will ’encourage you, perhaps strongly, that you should have searches carried out, but she has a professional duty to do this. One thing to consider; if you are intend to dispose of the house one day, it could be of importance to your prospective buyer what the searches disclose. Sometimes premises with apparent issues can still show up adverse search results. A good conveyancing solicitor in Elmstead will provide you some practical guidance here.
When it comes to mortgage companies such as Nationwide, do Elmstead property lawyers have to pay a yearly amount to be on the conveyancing panel?
We are unaware of any lender fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
I have today made my last payment due on my mortgage with Yorkshire BS. I assume I don't need a Elmstead conveyancer on the Yorkshire BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Yorkshire BS 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 Yorkshire BS mortgage from the register. Yorkshire BS, 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 Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
Yorkshire BS have agreed my home loan in principle, my bid on a house in Elmstead has been agreed to, what happens next?
Your property agent will need to know who your solicitors are (ensure that the solicitors are on the lender’s panel). Call up Yorkshire BS or the financial adviser and complete any relevant documentation. Yorkshire BS will sellect a valuer who will get in touch with the estate agent or vendor to arrange a time for the valuation to happen. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Yorkshire BS will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Elmstead.
I am close to exchanging contracts on the sale of our property in Elmstead and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any high street Elmstead lawyer would know this is not the case. It does beg the question why the purchasers used a nationwide conveyancing outfit as opposed to a conveyancing solicitor in Elmstead. Having lived in Elmstead for 4 years we know of no issue. Do we contact our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
2 months have gone by following my purchase conveyancing in Elmstead concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 premises 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 property I put an offer in last month in what should have been a quick, chain free conveyancing. Elmstead is the location of the property. Can you shed any light on this issue?
Flying freeholds in Elmstead are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Elmstead 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 Elmstead may ascertain 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.
What tools are available to find a Elmstead conveyancing solicitor on the lender conveyancing panel? I have a car and am prepared to travel up to twentykilometers to meet the solicitor.
You can use the find a conveyancing panel tool on this page. Please choose the lender and your location, in this case Elmstead and you will see a number of lawyer located nearest Elmstead. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the bank solicitor panel.