Is the fact that my solicitor in Sandown is not identified on my mortgage company's conveyancing panel that there is a problem with the quality of his conveyancing?
That is more than likely a wrong assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Sandown conveyancing firm and enquire why they are no longer on the approved list for your lender.
We were just about to exchange contracts for a freehold house in Sandown. We have hit a snag. Our mortgage offer with Yorkshire Building Society expires on 22/12/2025 but the vendors are putting forward a completion date of 24/12/2025. Can one prolong the loan offer?
The person best placed to deal with your issue is your conveyancer who should calculate whether they corresponding with the lender, vendor’s lawyers, selling agents or indeed all three based on the circumstances your transaction as of today.
4 months have elapsed following my purchase conveyancing in Sandown completed. I have checked the Land Registry site 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 property 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 Sandown differ for new build properties?
Most buyers of new build residence in Sandown come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Sandown tend to purchase the site, 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 property lawyers 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 used to new build conveyancing in Sandown or who has acted in the same development.
Is it simple use your search facility to get a quote from a conveyancing practitioner in Sandown on the approved list for my bank?
1st pick a mortgage company such as Barclays , Virgin Money or Platform Home Loans Ltd then specify your location such as Sandown. Conveyancing organisations in Sandown and nationally will then be identified.