We're in Benfleet, First timers buying with a mortgage (lender is Principality , and our solicitor is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My colleague advised me that where I am buying in Benfleet I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Benfleet conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Benfleet around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Benfleet Education with maps and statistics, Local Amenities and other useful data regarding Benfleet.
It has been four months since my purchase conveyancing in Benfleet 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 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.
How does conveyancing in Benfleet differ for new build properties?
Most buyers of new build or newly converted property in Benfleet contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is finished. This is because developers in Benfleet typically buy 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 conveyancing solicitors 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 Benfleet or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a house in Benfleet prior to instructing solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies may refuse to grant a mortgage on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Benfleet. Conveyancing will be smoother if you use a solicitor in Benfleet especially if they are acquainted with such properties in Benfleet.
Given that I am about to part with 450k on 3 bedroom house in Benfleet I wish to talk to a lawyer regarding theconveyancing in advance of giving the go ahead to the firm. Can this be arranged?
This is something that we encourage - it is our preference to talk to you we do not take any clients on without you liaising with the conveyancer who will be doing your property ownership legalities in Benfleet.There is no ‘factory style conveyancing’ - each client is unique individual, not a matter reference. The practices that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Benfleet should be the amount on the final invoice that you are charged.