I hired a local lawyer for my conveyancing in Woodhouse and Handsworth recently. Looking through the terms of engagement I seeI am on the hook for charges even if the movefalls through. Would I be best advised to appoint a web based conveyancing company offering no move no charge conveyancing in Woodhouse and Handsworth?
Generally there is a compromise along the lines that if "No Sale No Fee" is advertised then the conveyancing charges will generally be more expensive to neutralise the cases that do not proceed. You should be mindful that such arrangements rarely protect you from expenses such as Woodhouse and Handsworth conveyancing search fees.
My conveyancer has uncovered a a problem with the lease for the property we are buying in Woodhouse and Handsworth. The other side have offered defective title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor says that he must ensure that the mortgage company is happy with this solution. Are we the client or is the lender?
Notwithstanding that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the mortgage company are the client. The appropriate lender requirements have to be complied with.
Various online forums that I have come across warn that are the main cause of hinderance in Woodhouse and Handsworth house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any slowing down conveyancing in Woodhouse and Handsworth.
three months have elapsed following my purchase conveyancing in Woodhouse and Handsworth completed. 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 asset 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 Woodhouse and Handsworth differ for new build properties?
Most buyers of new build or newly converted property in Woodhouse and Handsworth come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Woodhouse and Handsworth usually buy 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 property lawyers 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 accustomed to new build conveyancing in Woodhouse and Handsworth or who has acted in the same development.
I opted to have a survey completed on a property in Woodhouse and Handsworth ahead of appointing lawyers. I have been informed that there is a flying freehold element to the property. My surveyor advised that some mortgage companies will refuse to give a mortgage on this type of property.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. If you call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Woodhouse and Handsworth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Woodhouse and Handsworth to see if the conveyancing will be more expensive.