My partner and I are hoping to purchase a home in Hunstanton and have instructed a Hunstanton conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Virgin Money have this morning contacted us to inform me that they have now hit a problem as our Hunstanton solicitor is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is standard 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 don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Hunstanton lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Will our conveyancer be making enquiries about flooding during the conveyancing in Hunstanton.
Flooding is a growing risk for lawyers carrying out conveyancing in Hunstanton. Some people will acquire a property in Hunstanton, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, but there are a numerous checks that may be initiated by the buyer or on a buyer’s behalf which can figure out the risks in Hunstanton. The standard property information forms supplied to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the owner to determine if the property has ever been flooded. In the event that the property has been flooded in past and is not notified by the seller, then a buyer may commence a legal claim for losses as a result of such an inaccurate reply. A buyer’s conveyancers should also conduct an environmental search. This should higlight if there is a recorded flood risk. If so, further investigations should be carried out.
It has been 2 months following my purchase conveyancing in Hunstanton completed. 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.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Hunstanton is where the house is located. What do you suggest?
Flying freeholds in Hunstanton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hunstanton you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hunstanton may determine 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.
My company is planning to take an assignment of a lease of an office on the high street. Can you recommend lawyers offering fixed charges for non-domestic conveyancing in Hunstanton for below £1,200?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Hunstanton, including the sale and purchase of businesses as well as simply property. Whether you are looking to acquire or dispose of a shop, pub, restaurant, office, retail unit or a whole business we will put you in touch with the right lawyer. Regarding the fees this will depend on the structure and complexity of the deal. Let us have your details or telephone us so that we may provide you with a detailed commercial conveyancing quote.
I am using a search engine for the words on line conveyancing in Hunstanton it shows results of numerous conveyancersin the vicinity. How do I determine which is the suitable conveyancer for my move?
The best method of finding a suitable conveyancer is through a trusted recommendation, so enquire of colleagues and relatives who have purchased a property in Hunstanton or the respected estate agent or financial adviser. Costs for conveyancing in Hunstanton vary, so it's sensible to request at least three costs illustrations from varying types of companies. Be sure to seek confirmation what costs in the quote includes.