I am in a contract race with another buyer for a property in Lakenham. What can be done to hasten the conveyancing process?
First, If you are under pressure to exchange we would recommend that your conveyancer is familiar with the location as they will benefit local contacts and know-how. It is even conceivable that they could have conducted otherhouses in the same neighbourhood. Therefore consider using a Lakenham conveyancing solicitor. In addition, ensure that the lawyer is on the member panel. It is estimated that 18% of Lakenham conveyancing deals are delayed or derailed after discovering a purchaser’s conveyancer was not on their banks list of approved solicitors. This can often result in the legal process being held up by almost three weeks. It is claimed that this issue affects approximately one hundred thousand home moves every year. Many Lakenham conveyancing firms can not act for certain banks so do check as early as possible.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Lakenham?
There are two types of lawyers who can perform conveyancing in Lakenham namely licenced conveyancers or solicitors. Both professionals handle conveyancing services that required to complete the disposal or purchase of property. Both are obliged to handle Lakenham conveyancing on similar standards and guidelines so you may be safe in the knowledge that your conveyancing will be professionally carried out and that all necessary procedures should be accurately followed.
When it comes to mortgage companies such as UBS, do Lakenham solicitors have to pay an annual charge to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I had an offer accepted on an apartment in Lakenham on 5/12/2024, valuation was booked 2 days later, received a clean bill of health. Solicitor instructed, so all that was missing was my mortgage offer. Having made daily calls to TSB and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the TSB conveyancing panel. Are TSB entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for TSB to deal with your lawyer's application to be on the TSB conveyancing panel. There's no guarantee that your solicitor will be accepted.
3 months have gone by following my purchase conveyancing in Lakenham concluded. I have checked the Land Registry site which shows that I paid £150,000 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 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.
I am purchasing my first flat in Lakenham benefiting from help to buy. The developers would not move on the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep advised me not disclose to my conveyancer about this extras as it may impact my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the guidance of my in-laws I had a survey completed on a property in Lakenham ahead of appointing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some lenders tend refuse to issue a mortgage on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. Should you wish to call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Lakenham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Lakenham to see if the conveyancing costs will increase in light of this.
I am selling my home. My past lawyers have shut. I would be grateful for any recommendation of a conveyancing firm. Im based in Lakenham if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Lakenham. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.