Me and my husband are acquiring a ground floor flat in Brunswick Park. My Solicitor is not on the mortgage company approved panel. Is it possible for me to appoint my Brunswick Park conveyancing solicitor notwithstanding that they are not on the bank panel of approved conveyancing solicitors?
You will need to instruct a property lawyer to deal with the formalities if you take out a loan to buy your property. The solicitor will carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the required mortgage paperwork is dealt with. One may instruct a Brunswick Park conveyancer of your choice. Nevertheless, where the property lawyer selected is not on the mortgage company approved list supplemental fees will be levied as separate legal representation will be need by the bank. Conveyancing panel applications can be submitted, so provided your lawyer has not in the past sought membership they should take the chance to apply.
We have rather assertive sellers who has insisted on a preliminary agreement with a non-refundable deposit of 5k. Is it wise to enter into such agreements?
Exclusivity agreements are agreements binding a property owner and prospective buyer giving the buyer a ‘clear field’ to purchase the premises for a certain period of time. Essentially, a lock out is a document specifying that you will be issued with a contract at a later time being the contract for the actual sale. It is generally used for buyer protection though in some cases, the seller may enjoy an upside from such agreements as well. There are various pros and cons to using them but you should to check with your lawyer but note that it may end up incurring more in conveyancing charges. For these reasons these contracts are unusual when it comes to conveyancing in Brunswick Park.
Do lenders provide you with an approved list of Brunswick Park conveyancing solicitors? How do you know who is on the Nationwide conveyancing panel?
Brunswick Park conveyancing firms themselves provide us confirmation that they are on the Nationwide conveyancing panel as opposed to being supplied with a list from Nationwide directly.
Please explain the implications if my solicitor is expelled from the Barclays Conveyancing panel ahead of completing my conveyancing in Brunswick Park?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
three months have gone by since my purchase conveyancing in Brunswick Park took place. 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.