Do all mortgage companies provide you with an approved list of Erdington conveyancing solicitors? How do you know who is on the Nottingham conveyancing panel?
Erdington conveyancing firms themselves provide us confirmation that they are on the Nottingham conveyancing panel as opposed to being supplied with a list from Nottingham directly.
We wanted to use a conveyancing solicitor in Erdington for our home move. Our broker has since advised us that our mortgage lenders Aldermore won't deal with them. Surely this is unduly restrictive?
Lenders on the whole imposes restrictions either the category or the amount of conveyancing firms on their member panel. A common example of such restriction(s) being that a law practice must have two or more partners. In addition to restricting the type of firm, a few banks have limited the amount of firms they permit to represent them. Be aware that Aldermore have no responsibility for the quality of advice provided by any member of Aldermore Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels a few years ago even though there are mixed views regarding the level of solicitor engagement in some of that fraud. Statistics from the Land Registry reveal that hundreds of law firms, including some in or near Erdington only execute a couple conveyances per annum.
It has been 4 months since my purchase conveyancing in Erdington concluded. I have checked the Land Registry website which shows that I paid £175,000 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.
How does conveyancing in Erdington differ for new build properties?
Most buyers of new build residence in Erdington contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Erdington typically buy 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 conveyancing solicitors 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 Erdington or who has acted in the same development.
I was advised by a few estate agents in Erdington to select a solicitor using your seach tool. Is there a financial inducement for Estate Agents to promote your lawyers ahead of another?
We don’t give any commission for pointing buyers and sellers to this site. We thought it would be too underhand a fee because home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Planning to exchange soon on a garden flat in Erdington. Conveyancing solicitors inform me that they will have a report out to me on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Erdington should include some of the following:
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Repair and maintenance of the property You should be informed what counts as a Nuisance as far as the lease is concerned Details of the parties to the lease, for example these could be the (you), superior lessor, landlord Setting out your rights in relation to common areas in the building.By way of example, does the lease include a right of way over a path or staircase?
Erdington Leasehold Conveyancing - A selection of Questions you should ask before buying
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Is anyone aware of any major works on the horizon that will add a premium to the maintenance charges? How is the lease structured? What is the name of the managing agents?