Just been in touch with my conveyancing lawyer in Kentish Town who acted for me two years ago and wanted a conveyancing estimate based on the same type of house sale & purchase (a leasehold property and a freehold premises) of almost identical values with a home loan from Bank of Ireland. It looks as though am now being charged double. Should I hunt for an alternative firm of conveyancing solicitor?
The quote is fractionally on the expensive side. If you are willing to expend time comparing costs you could decrease the fees slightly by as much as a hundred pounds. On the other hand, if you were happy with the assistance the firm offered you couldlive to regret opting for an a cheaper lawyer. If is important to be sure that the firm can also act for Bank of Ireland. Do employ our search tool to choose a Kentish Town conveyancing firm on the Bank of Ireland member panel, which can often include conveyancing solicitors in Kentish Town.
As I am unsure how the conveyancing process works what is the most important number one tip you can impart concerning purchase conveyancing in Kentish Town?
Not many law firms shout this from the rooftops but conveyancing in Kentish Town and elsewhere in England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there exists lots of room for friction between you and others involved in the legal transfer of property. For example, the vendor, estate agent and sometimes your lender. Choosing a law firm for your conveyancing in Kentish Town should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the transaction whose role it is to protect your legal interests and to protect you.
Every so often a potential adversary may try and sway you that you should follow their advice. For example, the estate agent may claim to be helping by claiming that your solicitor is slow. Or your financial adviser may tell you to do something that is against your lawyers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
We expect to receive a DIP from Principality this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Principality recommend any Kentish Town solicitors on the Principality conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Kentish Town solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
I can not fathom if my mortgage offer requires a lease extension. I have called into my local Kentish Town bank branch on a couple of occasions and was reassured it wasn't a problem and they would lend. My Kentish Town conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they would not lend in accordance with their published requirements. Who do I believe?
Provided that the lawyer is on the bank approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I've read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Kentish Town solicitor - who is on the TSB conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB 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 Kentish Town 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.
4 months have gone by since my purchase conveyancing in Kentish 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 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 element on a house I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Kentish Town is where the house is located. Is there any advice you can give?
Flying freeholds in Kentish Town are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kentish Town you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kentish Town may ascertain 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 residence.
Me and my wife are expecting to complete on the purchase a house in Kentish Town but as a result of damage from the recent storms I have agreed recompense from the current proprietors of £3k by way of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process yet the mortgage company will not permit this. Should they have been approached?
Any lawyer listed on a bank approved list is duty bound to disclose to the lender of any variations to the sale figure. In the event that you did not allow your property lawyer to report the price change to your bank then they would have to disinstructing themselves from acting for you and the bank.