I am acquiring a property for cash in West Malling. I have lived for the previous 20 years in West Malling. Conveyancing searches are expensive. As I know the area and road intimately should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a mortgage, then almost all of the West Malling conveyancing searches are non-obligatory. Your lawyer will try and sway you, no-doubt strongly, that you should have searches completed, but she has a professional duty to do this. One thing to bear in mind; if you are going to dispose of the house at a future date, it will likely be be of relevance to your future purchaser what the searches contain. Sometimes houses with no practical issues can still throw up detrimental search results. A good conveyancing solicitor in West Malling will be able to give you some constructive advice in this regard.
I had intended to instruct a property lawyer in West Malling for our house purchase. Our broker informed us that our mortgage company Santander won't deal with them. Surely this is unduly restrictive?
Before the recession most mortgage companies had an appetite for risk which was higher than today. Almost all West Malling conveyancing firms would have been on many mortgage company panels. The Financial Services Authority in 2010 carried out a thematic investigation into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more information from law firms regarding their operations and the individuals who work for them as well as set certain criteria such a completing on a minimum volume of transactions. Many West Malling conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. West Malling is one of the thousands of locations where the solicitors we recommend are on the panel for Santander.
We are aiming to move home in August. Does my conveyancing solicitor call the removal company on the completion day. Incidentally, can you put forward a removal company in West Malling. Conveyancing lawyer was organised prior to coming across your site.
On the afternoon of completion you can collect the house keys from your selling agent however this should only be done when the sellers solicitors advise the agent that the monies to complete are in and the keys can be given over. After that you should tell the removal men that you are ready to move in. As a matter of policy we do not suggest a particular removal organisation but can help you locate a residential property solicitor in West Malling or a firm with expertise in conveyancing in West Malling.
I have been told by my lawyer that missing deeds insurance is required on my purchase. What is the level of cover for West Malling conveyancing?
The right level of missing deeds indemnity insurance should be dictated by who your lender. It would differ for example between Nationwide Building Society and Chelsea Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
I'm the single recipient of my late mum's estate and I have everything in my name alone, including the my former home in West Malling. Conveyancing formalities meant that the Land Registry date was in May. I want to move. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership will be treated the same way as though I had purchased the property in May. Is the property unsalable for six months?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. Some banks would take a practical view as this requirement primarily exists to identify subsales or the wholesaling and assigning of property.
four months have elapsed since my purchase conveyancing in West Malling 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 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.
Due to the input of my in-laws I had a survey completed on a house in West Malling before retaining lawyers. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies tend refuse to give a mortgage on such a premises.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in West Malling. Conveyancing will be smoother if you use a solicitor in West Malling especially if they regularly deal with such properties in West Malling.
My wife and I are purchasing a first floor flat in West Malling. When we first instructed conveyancer, they told us that they were on all mainstream bank panels. The mortgage broker emailed today to say that they don't seem to be on the Aldermore approved list. Were it to be true, what should we do? Do we just choose a different conveyancing practitioner that is on their panel or should we cover the costs for separate representation, with Aldermore selecting their own preferred property lawyer.
When acquiring a property with mortgage finance it is normal for the purchaser’s lawyers to also act for the purchaser's lender. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's conveyancing panel. An application has to be made by the lawyer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the conveyancing practitioner has to fulfill. Some banks now insist their panel firms to be part of the Law Society’s Conveyancing Quality Scheme. Your lawyer should contact Aldermore to discover if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on Aldermore's conveyancing panel and you may continue to use your own West Malling solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.