It has come to my attention via my lender that my Lynton property lawyer is not on the bank Conveyancing panel. How can I be certain that this is indeed the case?
You need to call your Lynton lawyer directly. You lawyer should notify you of the situation. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
I am refinancing my home in Lynton, does my lawyer have to be on the Yorkshire BS Conveyancing panel?
There is nothing to stop you using your solicitor, but Yorkshire BS will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Should my conveyancer be making enquiries about flooding as part of the conveyancing in Lynton.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Lynton. There are those who buy a property in Lynton, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, however there are a number of searches that can be initiated by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Lynton. The standard information given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the seller to find out whether the premises has historically flooded. If flooding has previously occurred and is not disclosed by the owner, then a buyer may issue a claim for damages stemming from an incorrect reply. The purchaser’s solicitors should also commission an environmental search. This should higlight if there is a recorded flood risk. If so, further investigations should be carried out.
It has been four months since my purchase conveyancing in Lynton took place. I have checked the Land Registry website which shows that I paid £175,000 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.
Do I need to be concerned by brokers that I am dealing with are suggesting a nationwide conveyancing firm as opposed to a High Street Lynton conveyancing company?
As with lots of service providers, often recommendations from family and friends can be most helpful. Nevertheless there are numerous parties with a keen interest in a conveyancing deal; estate agents, financial adviser and mortgage companies may put forward solicitors to retain. On occasion these conveyancers might be known to one of the organisations as being good in their field, but sometimes there is an underlying financial incentive behind the endorsement. You have the discretion to select your preferred lawyer. However, bear in mind that most mortgage providers operate an approved list of conveyancers you have to use for the mortgage aspect of your conveyancing.