My husband and I are buying a 2 bedroom flat in Higher Kinnerton with a mortgage. We like our Higher Kinnerton solicitor, however the lender advise he's not on their "panel". We have to appoint one of the mortgage company panel firms or keep our Higher Kinnerton property lawyer and pay for one of their panel lawyers to act for them. This feels very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Higher Kinnerton conveyancing lawyer to apply to be on the conveyancing panel.
Can you explain why leasehold purchase conveyancing in Higher Kinnerton costs more?
The conveyancing costs for a leasehold premises in Higher Kinnerton is frequently more expensive as compared to a freehold residence. This is because there is an amount of additional work necessary in communicating with the freeholder and managing agents to obtain information about whether the rent and maintenance fee have been cleared and whether there are any major works due in the foreseeable future on repairs or maintenance of the block.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Higher Kinnerton. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 16/6/2021, the requirements read as follows :
three months have gone by following my purchase conveyancing in Higher Kinnerton completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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 Higher Kinnerton differ for newly converted properties?
Most buyers of new build residence in Higher Kinnerton come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is constructed. This is because builders in Higher Kinnerton 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 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 accustomed to new build conveyancing in Higher Kinnerton or who has acted in the same development.