Me and my partner are planning to purchase a 3 bedroom apartment in Knebworth with a mortgage. We have a Knebworth conveyancer, however the bank says he's not on their "panel". We have to appoint one of the bank panel firms or continue with our Knebworth solicitor as well as pay for one of their panel lawyers to act for them. We feel that this is inequitable; can we not require that the bank use our Knebworth lawyer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Knebworth conveyancing solicitor to apply to be on the conveyancing panel.
I am thinking of mortgaging my property in Knebworth, does my lawyer need to be on the Yorkshire BS Solicitor panel?
There is nothing to stop you using your solicitor, but Yorkshire BS will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
My colleague recommended that if I am buying in Knebworth I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Knebworth conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Knebworth around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Knebworth Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Knebworth Education with plans and statistics, Local Amenities and other useful data concerning Knebworth.
It has been five months since my purchase conveyancing in Knebworth 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 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 using a search engine for the term on line conveyancing in Knebworth it reveals numerous solicitorsin the area. How do I determine which is the suitable solicitor for my move?
The ideal method of choosing the right conveyancer is through a trusted recommendation, so ask colleagues and relatives who have acquired a property in Knebworth or a reputable estate agent or financial adviser. Fees for conveyancing in Knebworth differ, so it's a good idea to obtain at least three fee calculations from different solicitors. Make sure that you know what costs in the quote includes.
Threeweeks into a sale of a flat in Knebworth. Conveyancing lawyers are doing their job but we are being charged a fortune from the managing agents. To date we have issued a cheque for £237 for a leasehold management information and then a further £117.20 for additional questions raised by the purchaser's conveyancing practitioner.
You will not have control over the level of the charges for this information but the typical costs for the information for Knebworth leasehold premises is £355. For Knebworth conveyancing deals it is conventional for the seller to pay for these costs. The freeholder or their agents are not duty bound to address such questions although many will agree to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that mandates fixed charges for administrative tasks. Neither is there any prescriptive time frame by which they are obliged to provide the information.