When does exchange of contracts take place for sale conveyancing in Montgomery and do I need to attend the solicitors office?
If you are near to our conveyancing solicitors in Montgomery you are invited in to sign the paperwork. However, the lender approved solicitors we work with provide a countrywide conveyancing service and give as equally detailed and professional a job for you when communicating with you by post or email. The signing of the contract is not the point of no return. A signed contract simply enables the firm to address the formalities when the time is right, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Montgomery)to be in the office at the appropriate time.
We're in Montgomery, First time buyers buying with a mortgage (lender is Lloyds , and our lawyer is on the Lloyds conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Lloyds conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
What is the difference between a licensed conveyancer and conveyancing solicitor in Montgomery
There are two types of lawyers who can perform conveyancing in Montgomery namely licenced conveyancers or solicitors. Both professionals provide conveyancing services that required to complete the disposal or acquisition of property. Both are obliged to carry out Montgomery conveyancing on similar standards and guidelines so you may be sure that your conveyancing will be properly administered and that all requirements and steps will be accurately followed.
I'm the only beneficiary of my late grandmother’s estate and I have everything in my name now, including the house in Montgomery. Conveyancing formalities meant that the Land Registry date was in December. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', meaning my property ownership will be considered the same way as though I had purchased the house in December. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. Most mortgage companies would take a sensible view as this obligation is chiefly there to capture the purchase and immediately sell or the quick reselling of properties.
We are getting a further advance on our home loan from Nationwide as we intend to carry out alterations to our house in Montgomery. Are we obliged to choose a local Montgomery solicitor on the Nationwide conveyancing panel to deal with the paperwork?
Nationwide don't usually require firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide list.
It has been five months following my purchase conveyancing in Montgomery took place. I have checked the Land Registry site which shows that I paid £150,000 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 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.
How does conveyancing in Montgomery differ for newly converted properties?
Most buyers of new build residence in Montgomery contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is ready to move into. This is because builders in Montgomery typically acquire 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 Montgomery or who has acted in the same development.