My financial adviser has asked me for my Birtley law firm’s panel reference for the Lloyds conveyancing panel. How do I find this out. I have tried my local Birtley branch but they have not responded to me.
The sensible thing to do is ask for this information from your Birtley conveyancing practitioner . They retain a central record lender panel numbers.
I have paid off my mortgage with Nottingham. I assume I don't need a Birtley lawyer on the Nottingham panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
After weeks of negotiation I have agreed a price on an apartment in Birtley. My mortgage broker suggested a conveyancer. I paid an upfront payment of £150. A few days later, the conveyancer contacted me embarrassingly acknowledging that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Nationwide have agreed my home loan in principle, my bid on a flat in Birtley has been agreed to, now what?
The property agent will wish to know who your solicitors are (be sure the solicitors are on the bank’s panel). Telephone Nationwide or your broker and complete any relevant forms. Nationwide will sellect a valuer who will get in contact with the selling agent or vendor to arrange an appointment. Once carried out (assuming no problems) it takes approximately ten days to get a mortgage offer. Nationwide will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Birtley.
Will our lawyer be asking questions regarding flooding during the conveyancing in Birtley.
Flooding is a growing risk for conveyancers conducting conveyancing in Birtley. Some people will buy a house in Birtley, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, however there are a number of checks that can be initiated by the buyer or by their conveyancers which can figure out the risks in Birtley. The conventional set of information sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the vendor to discover if the premises has suffered from flooding. In the event that flooding has previously occurred which is not disclosed by the vendor, then a buyer may issue a compensation claim as a result of such an misleading reply. A buyer’s conveyancers will also order an environmental search. This should reveal whether there is any known flood risk. If so, further inquiries will need to be made.
2 months have elapsed since my purchase conveyancing in Birtley completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. 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 property 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 am looking for a ground for flat up to £195,000 and identified one round the corner in Birtley I like with open areas and railway links nearby, however it only has 52 years unexpired on the lease. There is not much else in Birtley suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term may be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
Builders have suggested I use a conveyancing practitioner and I've sought an estimate from them. It's almost £250 cheaper than my family Birtley property lawyer. What's the catch?
Builders often have lists of solicitors who are quick and who know the builder's contract and conveyancing practitioner. Plenty of developers offer an incentive to use a preferred lawyer for this reason, any increased charges can be avoided and a builder will not recommend a conveyancing warehouse and run the risk of having the transaction delayed when they need an exchange within a tight time frame. A counter-argument for not agreeing to use the recommended solicitor is that they may be reluctant to fight for your interests at the risk of upsetting the sellers. Where you have concerns that this may be the situation you should keep with your high street Birtley property lawyer.