My husband and I are looking to acquire a home in Yardley and are in fact using a Yardley conveyancing practice. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. National Westminster Bank have this evening contacted us to inform me that there is now an issue as our Yardley lawyer is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is usual for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Yardley solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
3 months have elapsed following my purchase conveyancing in Yardley took place. I have checked the Land Registry website which shows that I paid £200,000 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 residence 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.
Due to the input of my in-laws I had a survey completed on a property in Yardley prior to appointing lawyers. I have been informed that there is a flying freehold element to the house. The surveyor advised that some mortgage companies may not issue a mortgage on such a house.
It varies from the lender to lender. Santander has different instructions from Nationwide. If you call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Yardley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Yardley to see if the conveyancing costs will increase in light of this.
I need to instruct a conveyancing solicitor for purchase conveyancing in Yardley. I have stumble across a web site which appears to be the perfect offering If there is a chance to get all the legals done via email that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
For various reasons I am unfit to travel my Yardley conveyancing practitioners office to execute documents for conveyancing in Yardley – will this be an issue?
No. Yardley conveyancing solicitors can handle home moves for clients who are based anywhere. You are unlikely to be required to be present a Yardley conveyancers office. Almost all lawyer can deal with everything remotely from their Yardley office.