My Orpington solicitor has uncovered a difference between the information in the home valuation report and what is in the title deeds. My lawyer says that he is duty bound to check that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s approach correct?
Your solicitor must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. 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.
As a novice what is the most important number one tip you can give me about purchase conveyancing in Orpington?
You may not hear this from too many lawyers but conveyancing in Orpington and elsewhere in South East London is an adversarial process. Put another way, when it comes to conveyancing there exists lots of opportunity for conflict between you and others involved in the ownership transfer. For instance, the seller, estate agent and even potentially a lender. Selecting a solicitor for your conveyancing in Orpington is a critical decision as your conveyancer is your adviser, and is the ONLY party in the process whose responsibility is to look after your legal interests and to keep you safe.
On occasion a potential adversary may attempt to persuade you that it is in your interests to do things their way. For instance, the property agent may claim to be assisting by claiming that your solicitor is wrong. Or your mortgage broker may tell you to do something that is contrary to your solicitors advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
My bid for a property was accepted at auction in Orpington. Conveyancing is needed. What is next?
Given that you have now exchanged you now have to find a conveyancing solicitor quickly as you will have a pending a drop dead date to complete the property. Every auction property will ordinarily have a bespoke legal set of papers. This will likely include most,if not all of the documents that your conveyancer requires. Where you are dealing with leasehold premises the legal papers should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to a leasehold property. You should give this to the conveyancer working for you ASAP. Do make sure that you have funds in place to complete on the date specified in the contract.
I'm in the process of looking at apartments in Orpington and I am about to put in an offer. Is it too early to have a solicitor in place? I intend to finance via a mortgage with HSBC.
It would be advisable to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. As you are taking out a mortgage with HSBC, make sure you remember to check that your lawyer is on the HSBC conveyancing panel.
I've read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Orpington solicitor - who is on the Principality conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Orpington surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I bought my flat on 10 January and the transaction details is yet to be registered. Any reason for this? My conveyancing solicitor in Orpington expressed confidence that it will be formalised in less than a month. Are properties in Orpington particularly slow to register?
There is nothing unique when it comes to conveyancing in Orpington registration formalities. As opposed to being determined by geographic area, timeframes can vary subject to who lodges the application, whether there are errors and whether the Land registry need to notify any third persons or bodies. Currently approximately 80% of submission are fully addressed within two weeks but some can be subject to extensive delays. Historically registration occurs once the new owner has moved in to the premises therefore 'speed' is not usually an essential issue yet if it is urgent that the the registration takes place urgently then you or your lawyers must contact the land registry and explain the circumstances.
My solicitors in Orpington have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the bank. Is it case that being on the lender conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.