I plan on buying residence in Kemp Town. My Conveyancer is not on the lender solicitor list. Is it possible for me to continue with my Kemp Town conveyancing solicitor even though they are excluded from the lender approved list?
Your options include
- Complete the deal with your preferred Kemp Town conveyancing practitioner but your lender will need to use a property lawyer from their approved panel. This will result in additional fees and probable interruption.
- Get a new solicitor to act in the purchase, making sure they are on the lender conveyancing panel.
- Convince your conveyancer to attempt to join the mortgage company panel
I am selling my home in Kemp Town. Does my solicitor need to be on the Leeds Building Society conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Leeds Building Society conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
3 months have gone by following my purchase conveyancing in Kemp Town took place. I have checked the Land Registry site which shows that I paid £200,000 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 residence 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 Kemp Town differ for newly converted properties?
Most buyers of new build or newly converted property in Kemp Town come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is built. This is because developers in Kemp Town 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 Kemp Town or who has acted in the same development.
I decided to have a survey completed on a house in Kemp Town before appointing lawyers. I have been advised that there is a flying freehold element to the property. Our surveyor has said that some mortgage companies tend not give a mortgage on a flying freehold property.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. If you contact us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Kemp Town. Conveyancing may be slightly more expensive based on your lender's requirements.
We are contemplating choosing a web based conveyancing practitioner rather than a Kemp Town conveyancing practice. Am I making a mistake?
Advantages do exist in having the option attend a local Kemp Town conveyancing solicitor such as
- signing documents same day
- having one on one explanations of matters that need explaining
- the ability to raise concerns if matters are not going as expected
When comparing fees, look out for hidden extras. Most decent Kemp Town high street solicitors give an all-inclusive price. Many online companies seem to offer discounted prices, but have hidden 'extras' in the small print.