My wife and I are hoping to purchase a property in Hanslope and are in fact using a Hanslope conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Britannia have this afternoon contacted us to inform me that they have now hit a problem as our Hanslope conveyancer is not on their approved list of lawyers. Is this a problem?
If you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Hanslope lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
It is a dozen years since I bought my property in Hanslope. Conveyancing solicitors have just been retained on the sale but I can't track down the deeds. Will this cause complications?
You need not be too concerned. Firstly the deeds may be retained by your mortgage company or they could be archived with the solicitor who handled your purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. Nearly all conveyancing in Hanslope relates to registered property but in the unlikely event that your property is not registered it is more problematic but is not insurmountable.
It has been four months since my purchase conveyancing in Hanslope took place. I have checked the Land Registry site which shows that I paid £200,000 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 Hanslope differ for newly converted properties?
Most buyers of new build or newly converted property in Hanslope contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is constructed. This is because developers in Hanslope tend to 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 accustomed to new build conveyancing in Hanslope or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Hanslope is the location of the property. Is there any advice you can impart?
Flying freeholds in Hanslope are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hanslope you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hanslope may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
In surfing the world wide web for the words on line conveyancing in Hanslope it shows results of numerous conveyancerslocally. How do I determine which is the right conveyancer for me?
The ideal way of finding the right conveyancer is through a personal testimonial, so enquire of friends and those you trust who have purchased a property in Hanslope or a reputable estate agent or financial adviser. Charges for conveyancing in Hanslope differ, so it's advisable to secure at least three quotes from varying types of conveyancers. Make sure that you know that the fees are fixed.