We wanted to use a conveyancing solicitor in Heaton Moor for our house move. Our broker informed us that our mortgage company Virgin Money won't deal with them. Surely this is unduly restrictive?
Before the recession most banks had a different appetite for risk. Almost all Heaton Moor conveyancing firms would have been on most lender panels. The FSA in 2010 conducted a thematic investigation into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more information from law firms concerning their operations and the individuals who work for them as well as set certain criteria such a completing on a minimum amount of transactions. Many Heaton Moor conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Heaton Moor is one of the numerous areas where the lawyers we recommend are are approved Virgin Money.
My partner and I are close to exchanging contracts on the sale of our home in Heaton Moor and according to the buyers it appears that there is a risk of it being built on contaminated land. Any local lawyer would know that there is no such problem. For the life of me I don't know why the purchasers instructed a web based conveyancing firm as opposed to a conveyancing solicitor in Heaton Moor. Having lived in Heaton Moor for many years we know that this is a non issue. Do we contact our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
three months have gone by following my purchase conveyancing in Heaton Moor concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. 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 Heaton Moor differ for new build properties?
Most buyers of new build property in Heaton Moor contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is finished. This is because developers in Heaton Moor 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 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 accustomed to new build conveyancing in Heaton Moor or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Heaton Moor is where the house is located. Is there any guidance you can impart?
Flying freeholds in Heaton Moor are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Heaton Moor you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Heaton Moor may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.