My property lawyer in Luton is not listed on the Accord Mortgages Ltd Solicitor Panel. Can I still retain my family solicitor even though they are not on the Accord Mortgages Ltd approved list?
The limited options open to you here include:
- Complete the purchase with your existing Luton solicitors but Accord Mortgages Ltd will need to use a lawyer on their panel. This will result in additional total conveyancing fees and result in delays.
- Find a new lawyer to act in the purchase, not forgetting to check they are on the Accord Mortgages Ltd panel
I just bought a house at auction in Luton. Conveyancing is required. What are my next steps?
Having exchanged you must instruct a conveyancing solicitor soon as you now have a pending a fixed date to complete the transaction. Every auction property should have a bespoke legal set of papers. This should include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You must pass this on to the lawyer instructed by you ASAP. You also need to ensure that that you have the requisite funding organised to complete on the on the contractual date .
This question may be naive but I am wet behind the ears as a first time purchaser of a two bedroom flat in Luton. Do I receive the keys to the premises on the completion date from my conveyancer? If this is the case, I will use a local conveyancing solicitor in Luton?
On the day of completion you will not be required to go to the conveyancers office in Luton. Conveyancing lawyers for you will electronically transfer the completion advance to the owner’s lawyers, and shortly after the monies have arrived, you should be called to collect the keys from the property Agents and start moving into the property. Usually this happens between 1 and 3pm.
After much negotiation I have agreed a price on a house in Luton. My financial adviser recommended their conveyancers. I paid an on account payment of £150. A couple of days later, the lawyer called me to say that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Various internet forums that I have visited warn that are the main cause of obstruction in Luton house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Searches are not likely to be the root cause of delay in conveyancing in Luton.
three months have elapsed since my purchase conveyancing in Luton 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'm purchasing a new build house in Luton with a mortgage from Chelsea Building Society. The developers would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not inform my solicitor about the deal as it could affect my mortgage with Chelsea Building Society. 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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what should have been a quick, no chain conveyancing. Luton is the location of the property. Can you shed any light on this issue?
Flying freeholds in Luton are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Luton you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Luton may ascertain 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.