My wife and I are soon to complete on the purchase of a house in Erdington but as a result of damage from the recent storms I have was able negotiate recompense from the owner in the sum of three thousand pounds by way of a deduction in the price. This was going to be dealt with as part of a side agreement yet Virgin Money are not allowing this. Why were they notified?
Any solicitor being on the Virgin Money conveyancing panel is obliged to disclose to Virgin Money of any amendments to the purchase price. If you were to refuse your property lawyer to report the reduction to Virgin Money then they would have to discontinue acting for you. In addition, Virgin Money and you would have to appoint a new lawyer for your conveyancing in Erdington.
We're in Erdington, First time buyers purchasing with a mortgage (lender is Skipton , and our lawyer is on the Skipton conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Skipton 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.
This question may be naive but I am new to the process as a first time buyer of a garden flat in Erdington. Do I collect the keys to the property on the completion date from my solicitor? If so, I will appoint a High Street conveyancing solicitor in Erdington?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the owner’s conveyancers, and shortly after the monies have arrived, you should be called to collect the keys from the Estate Agents and start moving into the property. Usually this occurs between 1 and 3pm.
My partner and I are in the throws of looking at houses in Erdington and I am now considering a potential offer. Is it premature to have a solicitor in place? I intend to finance via a home loan with Aldermore.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. As you are obtaining a mortgage with Aldermore, ask your prospective lawyers if they are on the Aldermore conveyancing panel otherwise they can't do the mortgage legal work.
I have decided to exercise my right to buy my property in Erdington off the council. I have a mortgage agreed with Skipton. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
3 months have gone by following my purchase conveyancing in Erdington completed. I have checked the Land Registry site which shows that I paid £200,000 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 Erdington differ for new build properties?
Most buyers of new build premises in Erdington approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Erdington usually acquire 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 conveyancers 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 Erdington or who has acted in the same development.
To what extent are Erdington conveyancing solicitors duty bound by the Law Society to publish clear conveyancing costs?
Inbuilt into the Solicitors Code of Conduct are prescriptive rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their charges to clients.The Law Society have practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be interpreted as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, represent the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Erdington or across England and Wales.