I am hoping to receive a mortgage offer from Santander. I would like to use a Licensed Conveyancer in Lakenham. Does the Santander Solicitor panel exclude conveyancers regulated by the CLC?
The Santander conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My partner and I are only a couple days away from an exchange on a property in Lakenham and my mum and dad have transferred the ten percent deposit to my conveyancing practitioner. I am now advised that as the deposit has not arrived from me my solicitor needs to disclose this to my bank. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I advised the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The conveyancing practitioner is obliged to clarify with the bank to make sure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
We note that you have a post code search directory identifying firms on the Co-operative conveyancing panel. Do firms pay you a commission if I appoint them for our conveyancing in Lakenham?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Lakenham.
A colleague suggested that where I am buying in Lakenham I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Lakenham conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Lakenham around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Lakenham Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Lakenham Education with maps and statistics, Local Amenities and other useful information regarding Lakenham.
2 months have elapsed since my purchase conveyancing in Lakenham completed. 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 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 Lakenham differ for new build properties?
Most buyers of new build premises in Lakenham contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is constructed. This is because house builders in Lakenham tend to purchase 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 conveyancers 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 Lakenham or who has acted in the same development.