It is 10 years ago since I bought my house in Cobham. Conveyancing lawyers have now been appointed on the sale but I can't track down my deeds. Is this a major issue?
You need not be too concerned. First the deeds may be retained by your lender or they could be archived with the conveyancers who acted in your purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. The vast majority of conveyancing in Cobham involves registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.
Please explain the implications if my lawyer’s firm is expelled from the HSBC Solicitor panel ahead of completing my conveyancing in Cobham?
The first thing to point out is that, 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 at a cost.
It has been 4 months since my purchase conveyancing in Cobham took place. I have checked the Land Registry site 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 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 Cobham differ for new build properties?
Most buyers of new build premises in Cobham come to us having been asked by the seller to sign contracts and commit to the purchase even before the property is completed. This is because house builders in Cobham 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 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 Cobham or who has acted in the same development.
I opted to have a survey carried out on a property in Cobham before instructing conveyancers. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some lenders will refuse to give a loan on such a house.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. Should you wish to telephone us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Cobham. Conveyancing may be slightly more expensive based on your lender's requirements.