I am under pressure from the mortgagee in possession of a property in Holywell to exchange within four weeks. What can be done to speed up the conveyancing process?
In a situation where the seller is applying a tight deadline for your conveyancing it is advisable to make sure that your conveyancer is familiar with the location as they will make use of local contacts and insight. It is possible that they could have handled previoushomes in the same street. Therefore consider using a Holywell conveyancing firm. In addition, double check that the conveyancing firm is on the lender panel. It is understood that 18% of Holywell conveyancing deals are suspended or derailed after discovering a buyer’s solicitor was not on their mortgage lender’s panel. This can often result in the transaction being frustrated by as much as three weeks. It is said that this issue affects approximately 100,000 home sales annually. Many Holywell conveyancing firms can not represent certain mortgage companies so do check at the outset.
Our bank has recommended a law firm on their panel based in Holywell but I would rather choose a conveyancing lawyer in Holywell or nearer to where I live. Can you help?
The minority of Holywell conveyancing firms are approved and listed on all banks conveyancing panel. Use our search tool to choose a Holywell conveyancing conveyancer on the on the mortgage company panel.
four months have elapsed since my purchase conveyancing in Holywell completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. 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.
I am looking for a leasehold apartment up to £245,000 and found one close by in Holywell I like with a park and railway links nearby, the downside is that it only has 51 years on the lease. There is not much else in Holywell suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan that many years will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
My brother has suggested that I use his conveyancers in Holywell. Should I find my own conveyancer?
There are no two ways about it it’s preferable to choose a conveyancing solicitor is to have feedback from friends or family who have experience in using the solicitor that you are considering.
I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Holywell. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Holywell ?
Most houses in Holywell are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Holywell in which case you should be shopping around for a Holywell conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your conveyancer should appraise you on the various issues.