Is the fact that my solicitor in Sandown is not identified on my bank's solicitor panel that there is a problem with the standard of his conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters 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. If you are concerned you should simply call the Sandown conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
Can you explain why leasehold purchase conveyancing in Sandown costs more?
The conveyancing fees on a leasehold premises in Sandown is inevitably higher than on a freehold property. This is because there is an amount of extra investigations required in liaising with the freeholder and management company to obtain information concerning whether the rent and service fee have been cleared and whether there are any significant expenditure in the foreseeable future on repairs or maintenance of the building.
2 months have gone by following my purchase conveyancing in Sandown completed. I have checked the Land Registry website which shows that I paid £150,000 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 premises 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.
How does conveyancing in Sandown differ for newly converted properties?
Most buyers of new build premises in Sandown contact us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is built. This is because new home sellers in Sandown usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Sandown or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Sandown before appointing solicitors. I have been told that there is a flying freehold element to the house. The surveyor advised that some lenders may refuse to give a loan on this type of house.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. If you contact us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Sandown. Conveyancing will be smoother if you use a solicitor in Sandown especially if they are accustomed to such properties in Sandown.
What does commercial conveyancing in Sandown cover?
Non domestic conveyancing in Sandown covers a wide array of guidance, given by regulated solicitors, relating to business premises. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.