Me and my fiancee are acquiring our first house. Our conveyancing practitioner has texted usto see if we want to purchase extra conveyancing searches. We are really unsure what's appropriate for conveyancing in Surrey
The range of Surrey conveyancing searches depends entirely on the property, the location, the possibility of any of these risks, your knowledge of the region and risks, your overall attitude to risk. What matters is that you adequately appreciate what information each search could provide. You may then make a decision if you consider that you need that information. Should you be in doubt, ask your lawyer to offer guidance.
Do I need to pop into the offices of the solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Surrey so that I can pop in to their offices if necessary.
Whereas this was necessary 12 years ago, most mortgage companies no longer oblige their conveyancing panel lawyer to witness the borrowers signature. It will still be necessary for you to hand over ID documents and there are still distinct advantages to using a locally based ayer, in your situation a conveyancing solicitor in Surrey.
4 months have elapsed following my purchase conveyancing in Surrey concluded. I have checked the Land Registry website 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 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 Surrey differ for newly converted properties?
Most buyers of new build premises in Surrey approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Surrey typically 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 Surrey or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Surrey is where the house is located. What do you suggest?
Flying freeholds in Surrey are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Surrey you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Surrey may determine 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 property.
My lawyers in Surrey have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the lender. Is it case that being on the bank conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the mortgage company Conveyancing Panel Terms. It might be worth you contacting the bank directly.