My house in Luton is up for sale and I have accepted an offer. Does my lawyer need to be required to be on the Kent Reliance conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Kent Reliance conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
3 months have elapsed following my purchase conveyancing in Luton took place. I have checked the Land Registry website 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 residence 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 Luton differ for newly converted properties?
Most buyers of new build property in Luton come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Luton usually purchase 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 Luton or who has acted in the same development.
I have been on the look out for a ground for flat up to £235,500 and identified one near me in Luton I like with open areas and transport links nearby, the downside is that it's only got 51 years on the lease. There is not much else in Luton for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease may be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
I am looking to buy a property and require a conveyancing solicitor in Luton who is on the bank solicitor panel. Could you point me in the right direction as regards a Luton solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the lender who carry out conveyancing in Luton. We dont recommend any particular firm.