My wife and I are hoping to purchase a home in Acton and have instructed a Acton conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Accord Mortgages Ltd have this morning contacted us to inform me that there is now an issue as our Acton conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Acton solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
I am buying a property without a mortgage in Acton. I have been residing for the last 20 years in Acton. Conveyancing searches are exorbitant. As I know the area and road very well must I have all the conveyancing searches?
Provided that you do not need a home loan, then almost all of the Acton conveyancing searches are non-obligatory. Your solicitor will ’encourage you, no-doubt strongly, that you should have searches carried out, but he is duty bound to take that path of advice. Do take into account; if you are likely to sell the house one day, it could be of importance to your future purchaser what the searches contain. On occasion premises with functional issues can still show up unfavourable search results. A competent conveyancing solicitor in Acton should be able to give you some constructive advice here.
We are expecting a mortgage offer soon. The bank mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would prefer to appoint a local conveyancing solicitor in Acton?
Do check but the the likelihood is that allocate you one of their panel conveyancers where you want the "fee-free" deal. Contact the lender and see if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Acton.
four months have elapsed following my purchase conveyancing in Acton took place. 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 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.
I need to instruct a conveyancing solicitor for sale conveyancing in Acton. I've chance upon a web site which looks to be the ideal solution If there is a chance to get all formalities completed via web that would be preferable. Do I need to be wary? 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?
The loan agreement from a lender for the remortgage of my 4 bedroom garden flat is to be issued within the next few days. Can you suggest an efficient remortgage conveyancing practitioner in Acton ?
You have come to the wrong place to search for a cheap conveyancing in Acton. We can offer you excellent value conveyancing but we do not aim to work with the cheapest lawyers. Avoid the trap of appointing brokers offering £99 conveyancing in Acton.At best, in opting for cheap conveyancing, you will end up with what you pay for and at worst you will end up being stung for extras and still not get the service expected.