I am hoping to receive a offer of a home loan from Nat West. I intend to retain the legal services of a Licensed Conveyancer in Bassaleg. Does the Nat West Solicitor panel allow for conveyancers regulated by the CLC?
The Nat West approved solicitor list is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
What will a local search reveal regarding the property I am buying in Bassaleg?
Bassaleg conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search company for instance PSG The local search is essential in every Bassaleg conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your property. The search should reveal data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
It has been 4 months since my purchase conveyancing in Bassaleg took place. I have checked the Land Registry website which shows that I paid £175,000 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.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Bassaleg is where the house is located. Is there any advice you can impart?
Flying freeholds in Bassaleg are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bassaleg you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bassaleg may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I have been advised by a few selling agents in Bassaleg to locate a conveyancer using your seach tool. Is there a financial upside for Estate Agents to offer your lawyers over another?
We don’t give any referral fee for directing people our way. We thought it would be too underhand a fee as home movers will think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
We are first time buyers just having agreed a price on a property in Bassaleg, and need to get solicitors appointed. I have used the numerous rating based websites and the quotes are from all across the England and Wales. Is it necessary to have a Bassaleg property lawyer local to our prospective house? I am willing to do everything over the internet, but I guess at some point we may need to attend the solicitor's office to sign contracts?
The property lawyer does not need to be in Bassaleg, but opting for local means that you can visit their offices if needed, for instance, if a signature is needed urgently. Also, a Bassaleg solicitor have established relationships with local agents and (if the vendor has instructed a local property lawyer) with them, which should help keep things moving faster.