I am obtaining a mortgage with Lloyds. I would like to instruct a Licensed Conveyancer in Par. Does the Lloyds Conveyancing panel allow for Licensed Conveyancers?
The Lloyds conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
five months have elapsed since my purchase conveyancing in Par took place. I have checked the Land Registry site 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 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.
I opted to have a survey completed on a house in Par ahead of appointing conveyancers. I have been advised that there is a flying freehold aspect to the property. The surveyor advised that some banks will refuse to issue a mortgage on this type of property.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Par. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Par to see if the conveyancing costs will increase in light of this.
I was pointed in your direction by a few estate agents in Par to choose a solicitor on your site. Is there a financial upside for Estate Agents to offer your lawyers over another?
We refuse to give any commission for directing people in our direction. We thought it would be too underhand to pay a commission because home movers will think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
Am I better off to choose a Par conveyancing practitioner in close proximity to the house I am hoping to buy? I have an old university friend who can deal with the legal formalities but they are based a couple of hundredmiles drive away.
The primary upside of using a local Par conveyancing practice is that you can visit the firm to execute paperwork, present your ID and apply pressure on them where appropriate. Having local Par know how is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and they were happy that must surpass using an unfamiliar Par conveyancing solicitor solely due to them being round the corner.
Do you have any top tips for leasehold conveyancing in Par from the point of view of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Par can be reduced if you instruct lawyers as soon as you market your property and ask them to collate the leasehold information needed by the purchasers’ solicitors. The majority of freeholders or managing agents in Par levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Par. You believe that you know the number of years left on your lease but you should verify this via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is under 80 years. It is therefore important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. If you have had conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than unsettled.
Par Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing
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What is the name of the managing agents? On the whole the outlay for major works tend not to be included within maintenance charges, albeit that there some managing agents in Par ask tenants to contribute towards a reserve fund and this is used to offset against major works. How is the lease structured?