My fiance and I are hoping to purchase a property in Hermitage and have instructed a Hermitage conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Platform Home Loans Ltd have this evening contacted us to inform me that there is now an issue as our Hermitage conveyancer is not on their conveyancing panel. What do we do from here?
If you are buying a property with the assistance of a mortgage it is conventional for the purchasers' solicitors to also represent 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 are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Hermitage solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
My partner and I are intent on selling our house in Hermitage and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any high street Hermitage lawyer would know this is not the case. For the life of me I don't know why the buyers are using a web based conveyancing outfit as opposed to a conveyancing solicitor in Hermitage. Having lived in Hermitage for 5 years we know of no issue. Should we contact our local Authority to obtain confirmation that the buyers are looking for.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
It has been three months following my purchase conveyancing in Hermitage concluded. I have checked the Land Registry site which shows that I paid £175,000 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 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.
How does conveyancing in Hermitage differ for new build properties?
Most buyers of new build residence in Hermitage come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because developers in Hermitage 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 property lawyers 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 Hermitage or who has acted in the same development.
I decided to have a survey completed on a house in Hermitage before appointing conveyancers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies tend not give a mortgage on a flying freehold premises.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hermitage. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hermitage to see if the conveyancing will be more expensive.
My husband and I are first time buyers - agreed a price, yet the property agent has warned us that the seller will only issue a contract if we use the agent's preferred conveyancers as they want an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer with experience of conveyancing in Hermitage
We suspect that the owner is not behind this request. Should the vendor require ‘a quick sale', taking such a hostile approach to a genuine buyer is going to damage their objectives. Contact the owners directly and explain that (a)you are keen to buy (b)you are ready to progress, with finances arranged © you are unencumbered (d) you wish to move quickly (e)however you will continue to appoint your own,trusted Hermitage conveyancing solicitors - not the ones that will earn the estate agent a referral fee or meet his conveyancing thresholds demanded by HQ.