I can't travel far from Luton. What is the rationale as to why all Luton conveyancing practitioners aren't included on all mortgage company panels?
Before the recession most mortgage companies had an approach to risk which differs from the current day. The financial regulator in 2010 conducted a thematic review into fraud which concluded: know the lawyers on your panel. As a result, lenders have since looked to extract more data from law firms regarding their operations and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Many law practices have been excluded from lender panels even though they had 100% healthy disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms found it impossible meet the criteria of amount of transactions the mortgage companies required.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Luton?
Two types of professional can do conveyancing in Luton namely licenced conveyancers or solicitors. The two can handle conveyancing services that you need to complete the disposal or purchase of property. They are both obliged to conduct Luton conveyancing on similar standards and guidelines so you can be safe in the knowledge that your conveyancing will be properly conducted and that all necessary steps should be appropriately attended to.
I have today made my last payment due on my mortgage with Skipton. I assume I don't need a Luton conveyancer on the Skipton panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Skipton mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Skipton mortgage from the register. Skipton, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Skipton has sent the Land Registry the discharge electronically, and
- Skipton has instructed the Land Registry to do so
Our sealed bid on a semi in Luton has been accepted, but there is a chain. The owners have put an offer on on an apartment, but it’s not been accepted yet, and are looking at other flats in the pipeline. I have chosen a local conveyancing solicitor in Luton. What should be my next step? When should I get the mortgage application with Aldermore going?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx one thousand pounds, then survey, Luton conveyancing search fees, etc). First, you must ensure that your lawyer is on the Aldermore approved list. As to the next stages this very much dictated by the circumstances of your case, attraction to the property and on the state of the market. In a buoyant market the majority of purchasers would apply for a home loan with Aldermore and arrange for the valuation and only if it was satisfactory would they request their solicitor to move forward with the conveyancing in Luton.
What can a local search reveal about the property I am purchasing in Luton?
Luton conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company such as PSG The local search plays an important part in many a Luton conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your new home. The search should reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Luton is where the house is located. Is there any guidance you can impart?
Flying freeholds in Luton are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Luton you would need to get your solicitor to go 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 Luton 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.
Taking into account that I am about to spend hundreds of thousands of pounds on a terraced house in Luton I wish to have a conversation with the conveyancer regarding theconveyancing in advance of giving the go ahead to the firm. Is this something that you can arrange?
We could not agree more - we would be pleased to talk to you we do not take any clients on without you liaising with the conveyancer who will be conducting your property ownership legalities in Luton.There is no ‘factory style conveyancing’ - each client is unique person, not a matter reference. The practices that we put you in touch with believe that the fees you are provided with for residential conveyancing in Luton should be the amount on the final invoice that you are charged.
Should I choose a Luton conveyancing lawyer who is local to the property I am buying? An old friend can execute the legal work but her office is over three hundred miles drive away.
The benefit of a local Luton conveyancing firm is that you can visit the firm to sign paperwork, hand in your ID and apply pressure on them where appropriate. They will also have local intelligence which is a plus. However it's more important to get someone that will do a good and efficient job. If other friends have used your friend and in the main were content that should outweigh using an unknown Luton conveyancing solicitor solely due to them being Luton based.