I am buying a leasehold flat in Rayners Lane. My Solicitor is not listed on the mortgage company approved list. Is it possible for me to use my Rayners Lane conveyancing solicitor notwithstanding that they are excluded from the lender panel?
One must instruct a solicitor to complete the formalities when you need a mortgage to buy your property. They will conduct all the necessary legal checks on the property, ensuring that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is dealt with. You may instruct a Rayners Lane property lawyer of your choice. Nevertheless, where the solicitor appointed is not a member of the lender approved list additional costs will arise as separate legal representation will be need by the mortgage company. Conveyancing panel applications can be submitted, so if your solicitor has not in the past applied for membership they should do so.
The Rayners Lane conveyancing firm that just started acting on my house acquisition in Rayners Lane have suddenly closed. I only went with them because I needed a solicitor on the Co-operative conveyancing panel and my preferred Rayners Lane lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Co-operative conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
2 months have gone by following my purchase conveyancing in Rayners Lane took place. I have checked the Land Registry site which shows that I paid £150,000 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 asset 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.
Over the last few months I have been searching for a flat up to £235,500 and found one round the corner in Rayners Lane I like with amenity areas and station nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Rayners Lane suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage that many years may be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
I need to instruct a conveyancing solicitor for sale conveyancing in Rayners Lane. I have stumble across a web site which seems to have the ideal offering If it is possible to get all this stuff completed via web that would be ideal. Do I need to be concerned? 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?
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the bank conveyancing panel. My lawyer has said that they are on the lender approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the bank solicitor panel.