My mortgage broker has requested my Hoddesdon solicitor’s panel reference for the Nat West conveyancing panel. What is the best way to find this out. I have called my local Hoddesdon branch but they have not got back to me yet.
The sensible thing to do is ask for this information from your Hoddesdon solicitor . They should have a central record lender panel numbers.
We are nearing an exchange on a house in Hoddesdon and my mum and dad have sent the ten percent deposit to my solicitor. I am now advised that as the deposit has not arrived from me my conveyancing practitioner needs to disclose this to my mortgage company. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
Your conveyancing practitioner is obliged to clarify with the bank to make sure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
When it comes to mortgage companies such as Nottingham, do Hoddesdon solicitors have to pay a fee to be on the list of approved solicitors?
We are not aware of any mortgage company fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Hoddesdon solicitor - who is on the Aldermore conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Hoddesdon surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Skipton have agreed my home loan in principle, my bid on a property in Hoddesdon has been agreed to, what are the next steps?
The property agent will need to be advised as to your conveyancing practitioner's details (make sure the lawyers are on the lender’s approved list). Telephone Skipton or the financial adviser and finalise any appropriate forms. Skipton will appoint a valuer who will get in contact with the selling agent or owners to arrange a time for the valuation to happen. Once carried out (assuming no problems) it takes on average a week for the mortgage offer to be issued. Skipton will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Hoddesdon.
It has been three months following my purchase conveyancing in Hoddesdon took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. 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 Hoddesdon differ for new build properties?
Most buyers of new build residence in Hoddesdon approach us having been asked by the seller to sign contracts and commit to the purchase even before the residence is built. This is because new home sellers in Hoddesdon tend to purchase 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 used to new build conveyancing in Hoddesdon or who has acted in the same development.
In what way can the Landlord & Tenant Act 1954 impact my business property in Hoddesdon and how can you help?
The 1954 Act provides protection to commercial lessees, granting the right to apply to court for a continuation of occupancy when the lease reaches an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and help with commercial conveyancing in Hoddesdon