My wife and I are purchasing a 3 bedroom flat in Petts Wood with a mortgage. We have a Petts Wood conveyancer, however the mortgage company advise he's not on their "panel". It seems we have no option but to instruct one of the lender panel firms or keep our Petts Wood conveyancing practitioner and pay for one of their panel firms to represent them. We feel that this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you 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. Another option that might be available is for your Petts Wood conveyancing solicitor to apply to be on the conveyancing panel.
Forgive me if this question is silly but I am new to the home buying as a 1st time purchaser of a garden flat in Petts Wood. Do I pick up the keys to the house on completion from my solicitor? If this is the case, I will find a local conveyancing solicitor in Petts Wood?
On the day of completion you do not need to attend the conveyancers office in Petts Wood. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's conveyancers, and once they have received this, you will be called to collect the keys from the Estate Agents and start moving into the property. This tends to happen between 1 and 3pm.
We are getting the release of further monies on our mortgage from Kent Reliance as we want to carry out a loft conversion to our property in Petts Wood. Do we need to appoint a high street Petts Wood solicitor on the Kent Reliance conveyancing panel to deal with the paperwork?
Kent Reliance don't usually appoint firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance conveyancing panel.
After what feels like an age I have had an offer on a flat in Petts Wood agreed to, the sellers do however have a connected purchase. The sellers have put an offer on on an apartment, but it’s not yet tied up, and have viewings of other flats in the pipeline. I have selected a nearby conveyancing solicitor in Petts Wood. What should be my next step? At what point do I apply for the mortgage with Yorkshire BS?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is approx £1k, then valuation, Petts Wood conveyancing search charges, etc). First, you should ensure that your solicitor is on the Yorkshire BS conveyancing panel. As to the subsequent phase this very much dictated by the specifics of your transaction, motivation for the property and on the state of the market. In a hot market many buyers would apply for a home loan with Yorkshire BS and pay for the valuation and only if it was satisfactory would they request their lawyer to move forward with the conveyancing in Petts Wood.
three months have elapsed following my purchase conveyancing in Petts Wood completed. I have checked the Land Registry site which shows that I paid £200,000 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 premises 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 Petts Wood differ for new build properties?
Most buyers of new build premises in Petts Wood contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Petts Wood usually acquire 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 conveyancing solicitors 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 Petts Wood or who has acted in the same development.
Should I be concerned about estate agents that I am dealing with are suggesting a factory type conveyancing firm as opposed to a local Petts Wood conveyancing firm?
As with lots of professional services, often input from relatives can be very helpful. Yet there are many players in a conveyancing deal; estate agents, mortgage brokers and mortgage companies may suggest conveyancers to retain. Sometimes these solicitors might be known to one of the organisations as experts in their field, but sometimes there behind the scenes financial incentive behind the endorsement. You have the discretion to select your own conveyancer. Don't forget that most mortgage providers have an approved list of lawyers you are obliged to use for the mortgage aspect of your home move.
Am I better off to choose a Petts Wood conveyancing solicitor based in the vicinity that I am hoping to buy? An old friend can conduct the legal work however his firm is located a couple of hundredmiles drive away.
The benefit of a high street Petts Wood conveyancing practice is that you can attend the office to sign documents, present your ID and pester them if necessary. Having local Petts Wood know how is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and they were impressed that should outweigh using an unfamiliar Petts Wood conveyancing lawyer solely due to them being round the corner.