Me and my partner are planning to purchase a 3 bedroom apartment in Walton with a mortgage. We wish to retain our Walton conveyancer, but the lender says she’s not on their "panel". It appears that we have no choice but to use one of the mortgage company panel solicitors or keep our Walton lawyer and pay for one of their panel firms to represent them. This feels very unfair; can we not demand that the bank use our Walton conveyancer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Walton conveyancing lawyer to apply to be on the conveyancing panel.
It has been five months following my purchase conveyancing in Walton 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 Walton differ for new build properties?
Most buyers of new build property in Walton approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because developers in Walton usually 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 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 Walton or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Walton is the location of the property. Can you offer any advice?
Flying freeholds in Walton are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Walton 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 Walton 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.
Should I be suspicious by brokers that I am dealing with are suggesting a factory type conveyancing firm rather than a local Walton conveyancing firm?
As with many service providers, often referrals from family and friends can be extremely useful or valuable. Yet there are many people with a vested interest in a conveyancing matter; estate agents, mortgage brokers and banks might all recommend lawyers to appoint. On occasion these lawyers might be known to one of the organisations as experts in their field, but sometimes there behind the scenes commercial relationship behind the recommendation. You have the discretion to appoint your own lawyer. Don't forget that the majority of banks specify a panel list of lawyers you must use for the lender aspect of your house move.
As co-executor for the estate of my aunt I am selling a house in Cardiff but live in Walton. My solicitor (who is 235 kilometers from meneeds me to sign a statutory declaration before the transaction finalising. Could you suggest a conveyancing lawyer in Walton who can witness and place their company stamp on the document?
Technically speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are Walton based