I am considering applying for a TSB mortgage for purchase of a new build (under development) in Wirral with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for TSB ?
In theory, you could use a solicitor that is not on the TSB conveyancing panel, but TSB would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
It has been 2 months since my purchase conveyancing in Wirral took place. I have checked the Land Registry site which shows that I paid £200,000 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 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.
How does conveyancing in Wirral differ for new build properties?
Most buyers of new build residence in Wirral contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is completed. This is because builders in Wirral typically buy the land, 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 conveyancing solicitors 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 Wirral or who has acted in the same development.
I am looking for a ground for flat up to £245,000 and found one round the corner in Wirral I like with open areas and railway links in the vicinity, however it's only got 51 years unexpired on the lease. There is not much else in Wirral suitable, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
My dad purchased his flat in Wirral Six years ago. He has been wed, divorced and is now remarried. He will be selling the property next winter. I think he will just be need to supply copies of the marriage certificates to the conveyancer but he is concerned it will delay the home move. Should he instruct a conveyancing practitioner to update the title information for the property?
You are not required to update the register as long as you have the evidence needed to show how the name change has come about.
The purchaser’s solicitor should review the title entries and require evidence to prove the change of name for instance marriage documentation.