Do conveyancers request money up-front for conveyancing in St Neots?
Where you are retaining lawyers for conveyancing in St Neots your solicitor will request that you put them with funds to cover the search fees. Ordinarily this is asked for to cover the fees of the Local Authority Search. When the deposit is as part of the purchase price then this should be required shortly prior to contracts are exchanged. The final balance that is due should be transferred shortly before completion.
My conveyancer has informed me that chancel insurance is required on my purchase. What is the level of cover for St Neots conveyancing?
The appropriate level of chancel indemnity insurance should be dictated by who your lender. It would differ for example between Accord Mortgages Ltd and Barnsley Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
How can we tell if a St Neots conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in St Neots obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer handling your conveyancing.
I have today made my last payment due on my mortgage with Virgin Money. I assume I don't need a St Neots conveyancer on the Virgin Money panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
Should our solicitor be raising enquiries about flooding as part of the conveyancing in St Neots.
The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in St Neots. There are those who purchase a house in St Neots, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, but there are a various checks that may be carried out by the buyer or by their lawyers which can figure out the risks in St Neots. The standard property information forms supplied to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the vendor to find out if the premises has suffered from flooding. In the event that the residence has been flooded in past which is not disclosed by the vendor, then a purchaser could commence a legal claim for losses stemming from an inaccurate answer. The purchaser’s lawyers should also conduct an environmental report. This should higlight if there is any known flood risk. If so, more detailed investigations should be made.
4 months have gone by following my purchase conveyancing in St Neots concluded. I have checked the Land Registry site which shows that I paid £150,000 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.
Over the last few months I have been searching for a ground for flat up to £305k and identified one near me in St Neots I like with open areas and station nearby, however it only has 49 years unexpired on the lease. There is not much else in St Neots suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a home loan that many years may be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.