I am selling my house in West Sussex. Does the conveyancer need to be on the UBS conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
I am the single beneficiary of my late mum's estate and I have everything in my name alone, including the house in West Sussex. The West Sussex property was put into my name in May. I now wish to sell up. I understand that there is a CML 6 month 'rule', which means that my property ownership may be regarded the same way as though I had purchased the property in May. Is the property unsalable for six months?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. Some mortgage companies would take a practical view as this provision principally exists to capture the purchase and immediately sell or the flipping of properties.
Can I be sure that the West Sussex conveyancing solicitor on the Aldermore panel is any good?
When it comes to conveyancing in West Sussex seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer carrying out your transaction.
I have finally had an offer on an apartment in West Sussex agreed to, the owners do however have a connected purchase. The sellers have placed an offer on on an apartment, however it’s not yet agreed to, and are looking at other flats in the pipeline. I have selected a nearby conveyancing solicitor in West Sussex. What should be my next step? At what stage should I apply for the mortgage with TSB?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx one thousand pounds, then valuation, West Sussex conveyancing search charges, etc). The first thing to do is check that your property lawyer is on the TSB conveyancing panel. As to the next steps this very much dictated by the circumstances of your transaction, attraction to the property and on the state of the market. During a buoyant market many home buyers would apply for a home loan with TSB and pay for the valuation and only if it comes back ok would they pay their property lawyer to move forward with the conveyancing in West Sussex.
It has been three months since my purchase conveyancing in West Sussex took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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 West Sussex differ for new build properties?
Most buyers of new build residence in West Sussex approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is constructed. This is because new home sellers in West Sussex usually purchase the site, 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 West Sussex or who has acted in the same development.
I have been recommended by a few estate agents in West Sussex to select a conveyancer on your site. Is there a financial advantage for Estate Agents to market your site over and above alternative conveyancing organisations?
We refuse to offer any referral fee for sending work in our direction. We thought it would be too underhand to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
My wife and I have selected a West Sussex conveyancing solicitor for our house purchase (FTB’s) and have noticed in the engagement letter that they are not governed by the FCA. Am I right to be worried or is that standard with property lawyer?
We can't see why they should be. Most conveyancing practitioner don't lend money. They should be regulated by the SRA, who have strict laws in place on funds sitting by them.