Me and my partner are purchasing a flat in Hadley Wood. It might be a silly question but how we can trust a solicitor? At some point we will need to send our life savings into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Nationwide have agreed my home loan in principle, my offer on a property in Hadley Wood has been accepted, what happens next?
Your property agent will need to know who your solicitors are (make sure the conveyancing practitioners are on the lender’s approved list). Contact Nationwide or the broker and complete any outstanding paperwork. Nationwide will appoint a valuer who will get in contact with the selling agent or seller to schedule an appointment. Once carried out (assuming no problems) it takes about ten days for the mortgage offer to be issued. Nationwide will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Hadley Wood.
Our sealed bid on a property in Hadley Wood has been agreed to, the vendors do nevertheless have an associated purchase. The sellers have offered on a flat, however it’s not yet agreed to, and have viewings of other properties in the pipeline. I have chosen a high street conveyancing solicitor in Hadley Wood. What should be my next step? At what point should I apply for the mortgage with HSBC?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then valuation, Hadley Wood conveyancing search charges, etc). First, you must check that your lawyer is on the HSBC approved list. Regarding the subsequent phase this very much dictated by the circumstances of your case, desire for the property and on the state of the market. During a buoyant market many buyers would apply for a home loan with HSBC and arrange for the valuation and only if it was satisfactory would they request their property lawyer to press on with the conveyancing in Hadley Wood.
four months have gone by since my purchase conveyancing in Hadley Wood completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. 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.
I was advised by a number of selling agents in Hadley Wood to locate a property lawyer on your site. What’s the financial incentive for Estate Agents to promote your lawyers ahead of a competitor’s?
We refuse to give any financial incentive for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
I have been sourcing a conveyancing practitioner in Hadley Wood for my sale. Is there any facility to see a solicitor's record with the legal regulator?
One may see documented Solicitor Regulator Association (SRA) determinations arising from investigations from 2008 onwards. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA could monitor call for training reasons.
Me and my fiance are soon to exchange buying a property in Hadley Wood but as a consequence of wreckage from the recent storms I have negotiated reparation from the seller of £3k by way of a deduction in the price. This was going to be addressed as part of the conveyancing process yet my bank will not permit this. Should they have been approached?
Your conveyancer being on a mortgage company conveyancing panel is obliged to inform the bank of any changes to the purchase price. If you prohibit your property lawyer to report the reduction to your bank then they would have no choice but to refrain from representing you and the bank.