We are intending to buy a 1 bedroom apartment in Hermitage with a mortgage. We like our Hermitage solicitor, however the lender advise he's not on their "panel". It appears that we have little choice but to use one of the bank panel firms or continue with our Hermitage property lawyer and pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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 Hermitage conveyancing solicitor to apply to be on the conveyancing panel.
What is the first thing I need to know about purchase conveyancing in Hermitage?
Not many law firms shout this from the rooftops but conveyancing in Hermitage or throughout Berkshire is an adversarial experience. In other words, when it comes to conveyancing there is plenty of opportunity for confrontation between you and others involved in the legal transfer of property. E.g., the vendor, selling agent and even potentially your bank. Choosing a lawyer for your conveyancing in Hermitage should not be taken lightly as your conveyancer is your adviser, and is the ONE person in the process whose role it is to look after your legal interests and to protect you.
Every so often a potential adversary may attempt to sway you that it is in your interests to do things their way. For instance, the estate agent may claim to be assisting by suggesting your lawyer is slow. Or your mortgage broker may advise you to do take action that is contrary to your solicitors advice. You should always trust your lawyer above all other parties in the conveyancing process.
3 months have elapsed since my purchase conveyancing in Hermitage concluded. I have checked the Land Registry website which shows that I paid £175,000 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 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.
How does conveyancing in Hermitage differ for new build properties?
Most buyers of new build premises in Hermitage contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is ready to move into. This is because builders in Hermitage typically acquire 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 used to new build conveyancing in Hermitage or who has acted in the same development.
A licensed conveyancer dealt with my conveyancing in Hermitage 5 years ago having retained my title documents but has since been shut down – What can I do to get hold of these?
Deeds, as such, no longer exist as the majority of homes in Hermitage are recorded digitally at Land Registry. Should you need to prove ownership or are selling or refinancing your lawyer can obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned as quickly as possible.