When can the exchange of contracts occur in residential conveyancing in St James's and do I need to attend the conveyancers office?
Where you are local to our conveyancing solicitors in St James's you are invited in to sign the paperwork. That being said, the firms we recommend provide countrywide coverage for conveyancing and give just as diligent and professional a job for you when dealing with you electronically. The executing of the property agreement is not when everything is set in stone. A signed contract is just a prerequisite for the conveyancer to address the formalities at the suitable time, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in St James's)to be in the office available at the end of the phone to exchange contracts.
We are buying a newbuild apartment in St James's with a loan from Skipton Building Society.We would like to retain our St James's conveyancing lawyer but Skipton Building Society says her practice is not on their "panel". We have to appoint a Skipton Building Society panel lawyer or retain our high street solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The home loan issued to you is subject to its terms and conditions, a common one being that solicitors needs to be on the Skipton Building Society approved list. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Skipton Building Society
Two weeks ago we had a mortgage agreed in principle with RBS. St James's conveyancing practitioners were instructed. How long does it take for RBS to send the offer to the lawyer?
Some lenders take longer than others. Have RBS completed the survey? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have decided to exercise my right to buy my property in St James's off the council. I have a mortgage agreed with Kent Reliance. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Kent Reliance, you will need to appoint a solicitor on the Kent Reliance conveyancing panel.
Clydesdale have agreed my home loan in principle, my bid on a flat in St James's has been agreed to, now what?
Your property agent will wish to be advised as to your conveyancer's details (be sure the solicitors are on the bank’s approved list). Call up Clydesdale or the broker and finalise any appropriate forms. Clydesdale will appoint a valuer who will get in contact with the estate agent or owners to schedule an appointment. Once conducted (assuming no problems) it takes about a week to receive the mortgage offer. Clydesdale will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in St James's.
It has been 4 months following my purchase conveyancing in St James's concluded. I have checked the Land Registry site which shows that I paid £150,000 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 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.
My fiance and I are buying a three bedroom first floor flatin St James's with a loan from a lender. We would like to retain our conveyancer in St James's however our bank advise she’s not on their "panel". We have to appoint one of the our mortgage company panel firms or keep our St James's conveyancer and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that our mortgage company use our St James's lawyer?
No, not really. The mortgage company mortgage offered to you is subject to conditions, one of which will be that solicitors will on the bank's conveyancing panel. Until recently, most banks had large numbers of law firms on their panels, including almost all conveyancing solicitors in St James's : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for your bank.