Is it possible for conveyancing in Andover to be concluded in 28 days?
Where the seller is applying time constraints to sign contracts it is advisable to make sure that your solicitor is familiar with the area as they will make use of local contacts and knowledge. It is even conceivable that they would have handled previousproperties in the same road. You would be best advised to use a Andover conveyancing lawyer. Second, ensure that the lawyer is on the lender panel. It is understood that 18% of Andover conveyancing transactions are held up or derailed after finding out that a purchaser’s solicitor was not on their mortgage lender’s member panel. This can often result in the buying process being held up by almost three weeks. It is claimed that this issue affects approximately 100,000 home sales annually. Many Andover conveyancing practices can not represent certain banks so do check at the outset.
Are all Andover Conveyancing Quality Solicitors on the Co-operative conveyancing panel?
Some major lenders now make use of CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
We expect to receive a OIP from Skipton this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Skipton recommend any Andover solicitors on the Skipton conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Andover solicitors independently although you'll need to choose one on the Skipton conveyancing panel. The solicitor represents both you and Skipton through the process.
I can not work out if my lender requires a lease extension. I have telephoned my Andover building society branch on a couple of occasions and was told it does not affect the mortgage offer and they will lend. My Andover conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the conveyancer is on the mortgage company approved list, she or he must follow the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
What will a local search reveal regarding the property we're buying in Andover?
Andover conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations for instance PSG The local search plays a central role in many a Andover conveyancing purchase; as long as you don’t want any nasty once you have moved into your new home. The search will provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
It has been four months following my purchase conveyancing in Andover completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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.
I am looking for a ground for flat up to £195,000 and identified one close by in Andover I like with open areas and railway links in the vicinity, the downside is that it's only got 49 years on the lease. I can't really find anything else in Andover suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage that many years will be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.