Unfortunately I am unable to travel far from Rotherham. Is there a reason why all Rotherham conveyancers are not on all lender panels?
Mortgage companies point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to mortgage companies pruning less reputable firms off their panel of approved conveyancers .
We were just about to sign contracts for a ground floor flat in Rotherham. We have hit a problem. The loan offer with Platform Home Loans Ltd runs out on 9/1/2025 but the vendors are suggesting a completion date of 13/1/2025. Can one prolong the mortgage expiry date?
The best person to deal with your question is your lawyer who will determine if they corresponding with the mortgage broker, seller’s lawyers, estate agents or conceivably all parties given the circumstances your house move to date.
Can you clarify what the consequences are if my solicitor is suspended from the Aldermore Conveyancing panel ahead of completing my conveyancing in Rotherham?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I need some quick conveyancing in Rotherham as I have an ultimatum to complete in less than one month. Thankfully I do not need a mortgage. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are not getting a home loan you have the choice not to have searches conducted although no solicitor would advise that you don't. Drawing on our experience of conveyancing in Rotherham the following are instances of what can show up and adversely impact future saleability: Enforcement Notices, Overdue Fees, Overdue Grants, Railway Schemes,...
It has been three months following my purchase conveyancing in Rotherham took place. I have checked the Land Registry website 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.
How does conveyancing in Rotherham differ for new build properties?
Most buyers of new build residence in Rotherham contact us having been asked by the seller to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Rotherham typically purchase the real estate, 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 accustomed to new build conveyancing in Rotherham or who has acted in the same development.