I am buying a property mortgage free in Groby. I have lived for the last 15 years in Groby. Conveyancing searches are exorbitant. As I have knowledge of the road and vicinity intimately should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a home loan, then the vast majority of the Groby conveyancing searches are optional. Your solicitor will try and steer you, perhaps strongly, that you should have searches carried out, but he has a professional duty to do this. One thing to take into account; if you are likely to dispose of the house at a future date, it will be of interest to your future purchaser what the searches contain. There are plenty of instances where houses with no practical issues can still throw up unpredicted search results. A competent conveyancing solicitor in Groby will provide you some constructive guidance in this regard.
How up to date is your search tool for Groby conveyancing solicitors on the Virgin Money conveyancing panel? Do Virgin Money send you an updated list?
Groby conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
It has been four months since my purchase conveyancing in Groby completed. I have checked the Land Registry site which shows that I paid £200,000 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 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 Groby differ for newly converted properties?
Most buyers of new build residence in Groby contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is built. This is because house builders in Groby tend to acquire the land, 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 Groby or who has acted in the same development.
I have been on the look out for a flat up to £195,000 and identified one near me in Groby I like with open areas and station nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Groby in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage that many years will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
My uncle has suggested that I use his conveyancing solicitors in Groby. Do I take his advice?
No doubt the best way to choose a conveyancing practitioner is to seek referrals from friends or family who have actually experience in using the solicitor that you are contemplating using.