I have just been advised by my mortgage broker that my Duston solicitor is not on the lender Solicitor panel. How can I be sure that this is correct?
The best course of action for you to take is to contact your Duston lawyer directly. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a Duston conveyancing practice that is on the conveyancing panel for your mortgage company.
I had intended to instruct a conveyancing solicitor in Duston for our home move. Our broker informed us that our bank Godiva Mortgages Ltd won't deal with them. Why is this not regarded as unfair competition?
Mortgage Companies on the whole imposes restrictions either the category or the number of conveyancing firms on their approved list of lawyers. A common example of such restriction(s) being that a law practice must have two or more partners. In addition to restricting the type of firm, some have decided to limit the amount of firms they allow to represent them. You should note that Godiva Mortgages Ltd have no responsibility for the quality of advice provided by any member of Godiva Mortgages Ltd Conveyancer Panel. Mortgage fraud was a key driver in the reduction of solicitor panels since 2008 even though there are mixed views concerning the level of solicitor engagement in some of that fraud. Data from the Land Registry reveal that thousands of law firms, including some in or near Duston only perform one or two conveyances per annum.
It has been 4 months following my purchase conveyancing in Duston took place. I have checked the Land Registry website which shows that I paid £200,000 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 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.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Duston. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Duston
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There must be mutual enforceability of lessee’s covenants. Please confirm the Lease plans are architect prepared. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan.
We're FTB’s - had an offer accepted, yet the agent advised that the seller will only move forward if we appoint the agent's preferred lawyers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a family conveyancer accustomed to conveyancing in Duston
We suspect that the seller is unaware of this requirement. Should the seller desire ‘a quick sale', taking such a hostile approach to a genuine buyer is counter productive. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you are going to use your preferred Duston conveyancing firm - rather thanthose that will earn the estate agent a commission or hit his conveyancing thresholds demanded by HQ.
We have an offer in principle from The Mortgage Works who said we could borrow up to £400k. When do I need to instruct a practitioner for conveyancing? Duston is where we are buying.
It would be wise to instruct a property lawyer now and ask them to create a file on your behalf. This will trigger: 1) the estate agent to issue a Sales Memo to the relevant parties 2) the seller’s conveyancing practitioner to send out the draft paperwork. That being said, do not instruct your conveyancer to start searches until you receive your valuation report from The Mortgage Works and you are happy to proceed.