My husband and I are purchasing a 2 bedroom flat in Pevensey Bay with a mortgage. We have a Pevensey Bay conveyancer, but the lender advise she’s not on their "panel". We have to appoint one of the bank panel solicitors or retain our Pevensey Bay property lawyer as well as pay for one of their panel ones to represent them. We consider that this is unjust; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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. Another option that might be available is for your Pevensey Bay conveyancing lawyer to apply to be on the conveyancing panel.
I am purchasing a property mortgage free in Pevensey Bay. I have been residing for the previous dozen years in Pevensey Bay. Conveyancing searches are expensive. Given that I know the area and road intimately must I have all the conveyancing searches?
In the absence of a mortgage, then all but one or two of the Pevensey Bay conveyancing searches are at your discretion. Your lawyer will ’encourage you, perhaps strongly, that you should have searches completed, but she is duty bound to do this. One thing to consider; if you are going to sell the house one day, it may be of relevance to your future buyer what the searches contain. There are plenty of instances where premises with functional issues can still reveal negative search results. A competent conveyancing solicitor in Pevensey Bay should provide you some constructive guidance here.
What happens if my lawyer’s firm is suspended from the Principality Solicitor panel ahead of completing my conveyancing in Pevensey Bay?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
It has been 2 months since my purchase conveyancing in Pevensey Bay completed. I have checked the Land Registry site which shows that I paid £200,000 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 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 need to appoint a conveyancing solicitor for leasehold conveyancing in Pevensey Bay. I happened to chance upon a site which looks to be the perfect solution If it is possible to get all formalities completed via web that would be ideal. Should I be concerned? What should out be looking out for?
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?
I have today had an offer accepted on an apartment in Pevensey Bay and the mortgage adviser that we are using recommended his conveyancer. She quoted nine hundred pounds excluding VAT and 3rd party costs. Does this sound like a good deal?
Don't just go on one estimate. One should obtain like-for-like quotes for your conveyancing in Pevensey Bay. Then pick one that you are comfortable with and just as important, is on the approved list of the bank that you are sourcing your mortgage from.