Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Thurrock. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 11/7/2019, the requirements read as follows :
I am expecting a DIP from Clydesdale this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Clydesdale recommend any Thurrock solicitors on the Clydesdale conveyancing panel, or is it better to go independently?
You will need to appoint Thurrock solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
About to purchase house in Thurrock. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Thurrock conveyancer is on the Principality conveyancing panel.
After shopping around on the internet I have found a Thurrock conveyancing practitioner having made sure that they are on the HSBC conveyancing panel. Does my lawyer arrange the survey of the property?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC 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 Thurrock 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.
It has been 2 months following my purchase conveyancing in Thurrock concluded. I have checked the Land Registry website which shows that I paid £175,000 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.
I opted to have a survey done on a property in Thurrock in advance of instructing conveyancers. I have been advised that there is a flying freehold element to the property. My surveyor has said that some mortgage companies tend refuse to grant a loan on a flying freehold house.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. Should you wish to call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Thurrock. Conveyancing may be slightly more expensive based on your lender's requirements.
What advice can you give us when it comes to appointing a Thurrock conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Thurrock conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Thurrock conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:
How familiar is the practice with lease extension legislation?
Thurrock Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
How long is the Lease? Is there a share of the freehold? In the main the cost for major works tend not to be wrapped into the maintenance charges, although there some managing agents in Thurrock obliged leaseholders to pay into a sinking fund created for the specific purpose of building a fund for larger repairs or maintenance.