My partner and I are hoping to purchase a flat in Hucknall and are in fact using a Hucknall conveyancing firm. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. TSB have this afternoon contacted us to advise us that there is now an issue as our Hucknall lawyer is not on their conveyancing panel. Please explain?
If you are buying a property with the assistance of a mortgage it is normal 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 property lawyer should contact your lender 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 Hucknall solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
How up to date is your database of Hucknall solicitors on the HSBC conveyancing panel? Do HSBC send you an updated list?
Hucknall conveyancing firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.
My partner and I are close to exchanging contracts on the sale of our property in Hucknall and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A local conveyancer would know that there is no such problem. It does beg the question why the purchasers used an internet conveyancing firm rather than a conveyancing solicitor in Hucknall. We have lived in Hucknall for three years we know of no issue. Do we contact our local Authority to seek confirmation need.
It would appear that you have a conveyancing lawyer already. Are they able to advise? You need to 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 3 months following my purchase conveyancing in Hucknall concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. 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 asset 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.
What does commercial conveyancing in Hucknall cover?
Commercial conveyancing in Hucknall covers a broad range of guidance, provided by regulated solicitors, relating to business premises. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
How and when do I incur the Stamp Duty Land Tax due for my Hucknall property purchase?
The majority of lawyers tend to complete a Land Transaction Return Form for you during your Hucknall conveyancing transaction for you to sign. On completion your conveyancer will submit the STL Return Form to the Tax Authorities and - as long as they have the funds - pay any land tax payable for you.