When can the exchange of contracts occur in residential conveyancing in Callington and am I required to be at the solicitors office?
If you are round the corner to one of the conveyancing solicitors in Callington you are welcome to attend to sign contracts. However, the firms we work with offer a national conveyancing service and provide as equally diligent and professional a job for you when dealing with you by post or email. The signing of the contract is not the point of no return. Signing on the dotted line is just a prerequisite for the firm to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Callington)to be in the office available at the end of the phone to exchange contracts.
We are hoping to buy a 3 bedroom apartment in Callington with a loan from Nationwide Building Society.We have a Callington conveyancing lawyer but Nationwide Building Society informed us she’s not on their approved list of member firms. We have to appoint a Nationwide Building Society panel firm or keep our local solicitor and pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage issued to you is subject to its terms and conditions, one of which will be that lawyers will be on the Nationwide Building Society solicitor panel. Until recently, 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 lawyer to apply to be on the conveyancing panel for Nationwide Building Society
2 months have gone by since my purchase conveyancing in Callington concluded. I have checked the Land Registry website which shows that I paid £175,000 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 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.
How does conveyancing in Callington differ for newly converted properties?
Most buyers of new build residence in Callington approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is constructed. This is because developers in Callington typically purchase 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 property lawyers 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 accustomed to new build conveyancing in Callington or who has acted in the same development.
Am I best advised to choose a Callington conveyancing solicitor based in the vicinity that I am buying? An old friend can conduct the conveyancing but they are based 200kilometers away.
The benefit of a local Callington conveyancing firm is that you can pop in to execute documents, deliver your identification documents and pester them if necessary. Having local Callington know how is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and the majority were content that should outweigh using an unknown Callington conveyancing solicitor solely due to them being local.