Am I correct in assuming that the fact that my conveyancer in Petts Wood is not identified on my bank's conveyancing panel that there is a problem with the standard of the firm’s work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Petts Wood conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
Can the conveyancing practitioners that are recommend conduct auction conveyancing in Petts Wood?
There are a number of niche practitioners we can put you in touch with those who can conduct auction conveyancing. Petts Wood is just one of hundreds of locations where our lawyers are based.
What is the difference between a licensed conveyancer and conveyancing solicitor in Petts Wood
There are many recorded licenced Conveyancers in Petts Wood and Solicitor firms in Petts Wood who provide Conveyancing services It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. They may both also deal with other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
This question may be naive but I am new to the process as FTB of a garden flat in Petts Wood. Do I pick up the keys to the house on completion from my conveyancer? If this is the case, I will use a local conveyancing solicitor in Petts Wood?
On the day of completion you will not be required to go to the conveyancers office in Petts Wood. Your solicitors will transfer the purchase money to the seller's conveyancers, and shortly after the monies have arrived, you will be called to pick up the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
We are buying a 4 bedroom semi-detached house in Petts Wood. The intention is to carry out an extension to the side at the house.Will the conveyancing process include investigations to determine if these alterations are allowed?
Your conveyancer will review the deeds as conveyancing in Petts Wood can sometimes reveal restrictions in the title documents which prohibit categories of alterations or require the permission of a 3rd party. Many works need local authority planning consent and approval in accordance building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be wise to check these issues with a surveyor prior to committing yourself to a purchase.
I have been told that property searches are the primary reason for delay in Petts Wood house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of slowing down conveyancing in Petts Wood.
It has been 3 months since my purchase conveyancing in Petts Wood took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 property 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 am purchasing a new build house in Petts Wood with a mortgage from Accord Mortgages Ltd. The developers refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not disclose to my lawyer about this deal as it would jeopardize my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.