I was informed yesterday by my mortgage broker that my Leominster the law firm I have appointed is not on the lender Conveyancing panel. How can I check?
The first thing you need to do is to contact your Leominster lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
My husband and I are buying a 2 bedroom flat in Leominster with a mortgage from Godiva Mortgages Ltd.We use our Leominster conveyancing practitioner but Godiva Mortgages Ltd says his firm is not on their "panel". We have to appoint a Godiva Mortgages Ltd panel firm or retain our local solicitor and pay for a Godiva Mortgages Ltd panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that Godiva Mortgages Ltd use our lawyer?
Unfortunately,no. The loan issued to you is subject to its terms and conditions, one of which will be that solicitors needs to be on the Godiva Mortgages Ltd solicitor panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Godiva Mortgages Ltd
2 months have gone by since my purchase conveyancing in Leominster concluded. I have checked the Land Registry website 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 premises 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 Leominster differ for new build properties?
Most buyers of new build or newly converted property in Leominster come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is completed. This is because developers in Leominster usually purchase the site, 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 conveyancing solicitors 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 Leominster or who has acted in the same development.
Should I use a Leominster conveyancing practitioner who is local to the property I am buying? An old friend can carry out the legal formalities however his firm is located 400miles away.
The primary upside of using a high street Leominster conveyancing firm is that you can attend the office to sign paperwork, hand in your identification documents and pester them where appropriate. Having local Leominster know how is a benefit. However it's more important to get someone that will pull out all the stops for you. If you know people who instructed your friend and on the whole were impressed that should outweigh using an unfamiliar Leominster conveyancing lawyer just because they are based in the area.
I have just started marketing my basement flat in Leominster. Conveyancing has not commenced, however I have just had a half-yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as you normally would given that all ground rent and service payments should be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Leasehold Conveyancing in Leominster - Sample of Questions you should consider before Purchasing
What is the length of the lease? Be sure to investigate if the the lease includes any onerous restrictions in the lease. For instance some leases prohibit pets being allowed in certain buildings in Leominster. If you love the flatin Leominster however your dog is not allowed to move with you then you will be faced hard determination. How much is the annual maintenance fee and ground rent?