Why do I have to pay up front for conveyancing in South Tottenham?
If you are buying a property in South Tottenham your solicitor will ask you to provide them with monies to cover the search fees. Ordinarily this is called for to cover the fees of the Local Authority Search. If any deposit is payable against the purchase price then this will be required shortly before contracts are exchanged. The final balance that is needed should be transferred a few days ahead of the day of completion.
My bank has recommended a law firm on their panel based in South Tottenham but I would rather choose a conveyancing lawyer in South Tottenham or nearer to where I live. Can you assist?
It is by no means the case that all South Tottenham conveyancing practitioners are on all lender’s conveyancing panel. Please make use of our find an approved solicitor tool to locate a South Tottenham conveyancing firm on the on the lender panel.
2 months have elapsed following my purchase conveyancing in South Tottenham completed. I have checked the Land Registry website which shows that I paid £150,000 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 asset 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 South Tottenham differ for new build properties?
Most buyers of new build residence in South Tottenham approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is finished. This is because builders in South Tottenham tend to buy the real estate, 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 South Tottenham or who has acted in the same development.
I opted to have a survey done on a property in South Tottenham in advance of appointing conveyancers. I have been told that there is a flying freehold element to the house. My surveyor advised that some lenders tend refuse to grant a mortgage on a flying freehold home.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. If you call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in South Tottenham. Conveyancing will be smoother if you use a solicitor in South Tottenham especially if they are accustomed to such properties in South Tottenham.