We're in Norwich, FTBs purchasing with a mortgage (lender is , and our lawyer is on the conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
five months have elapsed following my purchase conveyancing in Norwich completed. I have checked the Land Registry site which shows that I paid £200,000 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.
Just had an offer accepted on a new build apartment in Norwich. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Norwich
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Please confirm the Lease plans are architect prepared.
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
Am I right to be wary about third parties that I am dealing with are encouraging me to use an internet conveyancing firm rather than a local Norwich conveyancing practice?
As is the case with lots of service providers, often suggestions from family and friends can be extremely useful or valuable. Yet there are lots of players in a conveyancing deal; estate agents, mortgage brokers and lenders may put forward solicitors to select. Sometimes these lawyers might be known to one of the organisations as experts in their field, but occasionally there behind the scenes financial incentive behind the endorsement. You have the discretion to appoint your own conveyancer. Don't forget that some mortgage providers specify a panel list of law firms you have to use for the lender related work in your house move.
Much to my surprise my lawyer in Norwich is asking me for personal identification documents saying that this is part of his requirements as a solicitor on the lender Conveyancing panel. Am I being spun a yarn?
Anti-terror and anti-money-laundering rules require Norwich conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the lender also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the mortgage company's UK Finance Lenders’ Handbook requirements