My wife and I are acquiring a new build flat in Whickham and my conveyancer is advising me that she is duty bound to the lender to disclose incentives from the seller. I am nearing the developer’s deadline to exchange and I would rather not prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
What is the difference between a licensed conveyancer and conveyancing solicitor in Whickham
Two types of professional can carry out conveyancing in Whickham namely licenced conveyancers or solicitors. The two can administer the legal services that required to complete the sale or acquisition of property. They are both obliged to carry out Whickham conveyancing to the same quality and guidelines so you may be sure that your conveyancing will be professionally conducted and that all requisite procedures should be suitably taken.
After shopping around on the internet I have found a Whickham lawyer having checked that they are on the Principality conveyancing panel. Does my lawyer arrange the survey of the property?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Whickham postcode. As you are getting a mortgage with Principality, you could contact them to see if they have a list of approved surveyors in Whickham.
Principality have agreed my mortgage in principle, my offer on a house in Whickham has been accepted, what are the next steps?
The property agent will want to know who your solicitors are (ensure that the solicitors are on the lender’s approved list). Telephone Principality or your broker and complete any outstanding paperwork. Principality will appoint a valuer who will get in contact with the selling agent or vendor to book an appointment. Once carried out (assuming no problems) it takes about a week to get a mortgage offer. Principality will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Whickham.
three months have gone by since my purchase conveyancing in Whickham took place. I have checked the Land Registry website 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 property 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.
I have been on the look out for a ground for flat up to £245,000 and identified one near me in Whickham I like with amenity areas and transport links nearby, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Whickham in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage that many years will be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
What tools are available to identify a Whickham solicitor on the Britannia conveyancing panel? I have wheels and am prepared to travel upto 20miles to meet the conveyancer.
Feel free to make use of the search on this page. Please pick a lender and your location and you will see a number of Whickham conveyancing lawyers locally. We have listed some Whickham conveyancing firms towards the end of this page and you can contact them to verify if they are on the Britannia member panel
I am a couple of weeks into a leasehold purchase having been recommend to a firm by the selling agent to carry out the conveyancing in Whickham. We are not happy. Can you you assist me in finding new conveyancers?
A solicitor would need to be really bad in order to consider changing them. Has your mortgage offer been generated? If so you must inform them of the new lawyer and ensure the loan are issued to the new lawyers. Your new conveyancer needs to be on the lenders approved list to avoid supplemental fees and delays. So that should be your starting point. Our find a solicitor tool can assist you in finding a lender approved conveyancer for your conveyancing in Whickham