Am I correct in assuming that the fact that my conveyancer in Boston is not identified on my bank's solicitor panel that there is a problem with the quality of his work?
That is more than likely an incorrect assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (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. Should you be concerned you should contact the Boston conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
3 months have gone by since my purchase conveyancing in Boston completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. 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 Boston differ for newly converted properties?
Most buyers of new build residence in Boston approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Boston usually purchase the land, 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 Boston or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Boston prior to retaining conveyancers. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies tend refuse to grant a mortgage on such a premises.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. If you call us we can look into this further with 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 Boston. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Boston to see if the conveyancing will be more expensive.
We're first time buyers - agreed a price, yet the estate agent has warned us that the seller will only proceed if we instruct their recommended lawyers as they want an ‘expedited deal’. My instinct tells me that we should use a family conveyancer with experience of conveyancing in Boston
We suspect that the seller is unaware of this demand. If they want ‘a quick sale', alienating a motivated purchaser is counter productive. Speak to the vendors direct and make sure they understand (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you intend to use your own,trusted Boston conveyancing firm - not the ones that will give their negotiator at the agency a kickback or hit his conveyancing figures set by head office.
Why do Boston conveyancing costs are more expensive for leasehold and freehold properties?
Inevitably there is more work needed in leasehold conveyancing. Boston has many leasehold properties. There is more hours involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.