My wife and I have recently appointed a conveyancing solicitor in Failsworth. I I would like to check if they are on the Leeds Building Society approved list of lawyers. Could you or the lender confirm if they are on the panel?
The first thing to do is call the solicitor and enquire if they are on the lender panel. Otherwise you can call Leeds Building Society who may be able to help.
I have been told that property searches are the number one cause of hinderance in Failsworth house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Failsworth.
It has been 3 months following my purchase conveyancing in Failsworth took place. 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 premises 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 Failsworth differ for newly converted properties?
Most buyers of new build or newly converted property in Failsworth contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in Failsworth usually acquire 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 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 accustomed to new build conveyancing in Failsworth or who has acted in the same development.
I was advised by two or three local estate agents in Failsworth to find a solicitor using your seach tool. Is there a financial inducement for Estate Agents to promote your lawyers over and above alternative conveyancing organisations?
We don’t give any financial incentive for pointing buyers and sellers to this site. We thought it would be too underhand a fee as a client could think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
What is the reason for my property lawyer requiring various items of ID before they can proceed with my conveyancing in Failsworth?
Failsworth solicitors are required by the Law Society, Solicitors Regulation Authority, HM Land Registry and current Money Laundering Regulations to record that the have verified the identity of their clients. It will also be a condition of your bank if you are taking a mortgage. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have information such as your full names, NI number and date of birth.