We're in Lisson Grove, FTBs buying with a mortgage (lender is HSBC , and our lawyer is on the HSBC conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the HSBC conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
2 months have gone by following my purchase conveyancing in Lisson Grove concluded. I have checked the Land Registry site 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 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.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Lisson Grove is the location of the property. What do you suggest?
Flying freeholds in Lisson Grove are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lisson Grove you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lisson Grove 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 property.
I was recommended by numerous property agents in Lisson Grove to get a quote from a solicitor on your site. Is there a financial inducement for Estate Agents to promote your services over and above alternative conveyancing organisations?
We refuse to give any commission for pointing buyers and sellers to this site. We found it would be just too difficult to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I need to instruct a conveyancing solicitor for my conveyancing in Lisson Grove. I've discover a site which appears to be the ideal offering If it is possible to get all formalities done via web that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My husband and I are acquiring a ground floor flat in Lisson Grove. When we first instructed conveyancing practitioner, we were told they were on all major UK lender panels. Our mortgage broker called just now to advise that they don't appear to be on the Leeds Building Society approved list. Were it to be true, what should we do? Do we simply choose a new solicitor that is on their approved list or do we pay for separate representation, with Leeds Building Society selecting their own approved lawyer.
If you are purchasing a property needing a mortgage it is normal for the purchaser’s solicitors to also represent the purchaser's lender. In order to act for a bank or building society a conveyancer has to be on that lender's conveyancing panel. An application has to be made by the solicitor to the lender to become a member of the lender's panel and there are increasingly strict conditions which the conveyancer has to satisfy. Some mortgage companies now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your conveyancer should call Leeds Building Society and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on Leeds Building Society's conveyancing panel as you are at liberty to use your preferred Lisson Grove lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another solicitor into the mix.