Me and my partner are purchasing a maisonette in Knowle. My lawyer has never been on on the bank conveyancing panel. Can I still use my Knowle conveyancing solicitor notwithstanding that they are not on the lender list of approved lawyers?
You must use a solicitor to complete the legal work required if you need a loan to purchase your home. The lawyer will carry out all the necessary legal checks on the property, make sure that you will be registered as proprietor and ensure that all the required mortgage documentation is in order. One can appoint a Knowle solicitor of your choice. Nevertheless, if the conveyancing practitioner selected is not on the bank conveyancing panel further costs will arise as separate legal representation will be need by the bank. Lender panel applications may be submitted, so if your conveyancer has not in the past applied for membership they should do so.
My conveyancer has discovered a a problem with the lease for the flat we are buying in Knowle. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancing practitioner has advised that he must check that the mortgage company is content with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
five months have elapsed since my purchase conveyancing in Knowle concluded. I have checked the Land Registry site 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 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.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Knowle is the location of the property. What do you suggest?
Flying freeholds in Knowle are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Knowle you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Knowle may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
At long last a mortgage offer from a lender for the remortgage of my 4 bedroom apartment is expected any day now. Are you able to suggest a cheap remortgage conveyancing lawyer in Knowle ?
You have come to the wrong place to search for the lowest fares for conveyancing in Knowle. Our aim is to provide cost effective conveyancing but our intention is not to advertise as being the cheapest. Avoid the trap of appointing companies offering £99 conveyancing in Knowle.In your best case scenario, in opting for cheap conveyancing, you will end up with what you pay for and at worst you will end up paying a lot in extras and still not get the service required.