I am searching for value for money conveyancer. Do I opt for a nationwide conveyancer or a local Hanley conveyancing lawyer?
Existing third party relationships are another important factor to consider when choosing conveyancing lawyers. Hanley conveyancers enjoy long term relationships with financial advisers and Hanley, local authorities, valuers and other conveyancing firms meaning the whole process is going to be much smoother for you. Hosting vast knowledge of the local area is also a plus .
We are nearing an exchange on a property in Hanley and my parents have transferred the ten percent deposit to my lawyer. I am now told that as the deposit has been received from someone other than me my solicitor needs to make a notification to my lender. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the bank regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The conveyancing practitioner is obliged to check with lender to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
My grandfather passed away last year and as sole heir and executor I was left the house in Hanley. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then Nottingham will require that you use a conveyancer on the Nottingham conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nottingham conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nottingham mortgage is registered as a charge at the Land Registry.
Should my conveyancer be raising questions about flooding as part of the conveyancing in Hanley.
The risk of flooding is if increasing concern for lawyers dealing with homes in Hanley. There are those who acquire a house in Hanley, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, but there are a number of checks that may be initiated by the buyer or by their conveyancers which should figure out the risks in Hanley. The standard completed inquiry forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to discover whether the property has ever been flooded. If the residence has been flooded in past which is not revealed by the seller, then a buyer may commence a legal claim for losses resulting from an incorrect answer. A purchaser’s lawyers may also order an enviro search. This should indicate if there is any known flood risk. If so, further inquiries will need to be carried out.
It has been four months following my purchase conveyancing in Hanley concluded. I have checked the Land Registry site which shows that I paid £175,000 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 residence 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 Hanley differ for new build properties?
Most buyers of new build or newly converted property in Hanley come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is finished. This is because house builders in Hanley typically purchase 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 conveyancing solicitors 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 Hanley or who has acted in the same development.