AssumingI was to purchase a freehold homein Forty Hill mortgage fee and dispense with a survey and no local authority searches how much would I expect to to save on my conveyancing in Forty Hill?
Any savings you would achieve would be limited to the Forty Hill conveyancing searches. A solicitor is required to do the vast majority of work - money laundering, correspond with the sellers conveyancing practitioner, stamp duty return, register the title etc. A slight saving might be made by not needing to register a charge however it will not be a lot.
My property lawyer in Forty Hill is not on the Bank of Scotland Approved Panel. Is it possible for me to use my family solicitor notwithstanding that they are not on the Bank of Scotland panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your preferred Forty Hill solicitors but Bank of Scotland will need to retain a conveyancer on their list of acceptable firms. This will result in additional total conveyancing charges as well as cause frustration.
- Get a new practitioner to to deal with the purchase, remembering to check they are Convince your solicitor to use their best endeavours to join the Bank of Scotland conveyancing panel
is it true that all Forty Hill solicitors on the Bank of Ireland conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Bank of Ireland approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of lenders do permit licenced conveyancers on their panel and in that case the practice would be regulated by the CLC.
I am expecting a OIP from Lloyds this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Lloyds recommend any Forty Hill solicitors on the Lloyds conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Forty Hill solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
Intending to buy a maisonette in Forty Hill. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Forty Hill conveyancer is on the RBS conveyancing panel.
Various internet forums that I have come across warn that are the primary cause of stalling in Forty Hill conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Forty Hill.
five months have elapsed since my purchase conveyancing in Forty Hill took place. I have checked the Land Registry site 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 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 property I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Forty Hill is where the house is located. Can you offer any assistance?
Flying freeholds in Forty Hill 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 Forty Hill you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Forty Hill 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 premises.