Me and my wife are buying a flat in Pulborough. My property lawyer has never been on on the bank solicitor list. Is it possible for me to appoint my Pulborough conveyancing solicitor notwithstanding that they are excluded from the bank approved list?
One will need to use a property lawyer to complete the legal work required if you take out a mortgage to purchase your home. They will carry out all the appropriate investigations on the property, make sure that you’re registered as proprietor and ensure that all the required mortgage documentation is in place. You may appoint a Pulborough conveyancing practitioner of your choosing. However, if the solicitor selected is not a member of the bank conveyancing panel additional charges will be levied as separate legal representation will be need by the mortgage company. Conveyancing panel applications may be submitted, so provided your solicitor has not historically applied for membership they should take the chance to apply.
The Pulborough conveyancing firm that I recently instructed on my purchase in Pulborough have suddenly closed. I chose them because I needed a solicitor on the Coventry BS conveyancing panel and my previous Pulborough lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Coventry BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
three months have elapsed following my purchase conveyancing in Pulborough completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Pulborough is where the house is located. Can you offer any advice?
Flying freeholds in Pulborough are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Pulborough you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pulborough may determine 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 residence.
We are midway through buying a residence in Pulborough. Conveyancing lawyer has phoned to say the property is "Leasehold". Should this impact our home loan valuation?
Pulborough conveyancing does not usually involve leasehold houses. The crucial factor here is the length of lease and the ground rent. If it's 999 years with a peppercorn rent, it's almost the same as freehold, so it’s unlikely to impact the value too much.
At the other end of the spectrum, if it's, say, fifty five years it will have a material effect on the value, and most likely wouldn't be mortgageable. The remaining lease term and ground rent will be set out in the lease to be supplied to your lawyer.