I am obtaining a offer of a home loan from Nat West. I intend to enlist the help of a Licensed Conveyancer in Abbey Wood. Does the Nat West Solicitor panel allow for Licensed Conveyancers?
The Nat West conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Having invested time reading mumsnet.com for an affordable solicitor in Abbey Wood, many post that I must look for a CQS accredited solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home moving process, trusted by some of the UK's leading lenders. Four years ago the Conveyancing Quality Scheme was officially recognised by the Legal Ombudsman. The scheme does not cover licenced conveyancers. Abbey Wood is one of the many areas of the UK where there are CQS solicitors.
How does conveyancing in Abbey Wood differ for new build properties?
Most buyers of new build premises in Abbey Wood come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is finished. This is because developers in Abbey Wood usually 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 accustomed to new build conveyancing in Abbey Wood or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one round the corner in Abbey Wood I like with a park and railway links nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Abbey Wood for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
We're novice buyers - agreed a price, but the selling agent told us that the vendor will only issue a contract if we appoint their recommended conveyancers as they need a ‘quick sale’. My instinct tells me that we should use a family solicitor used to conveyancing in Abbey Wood
We suspect that the owner is not behind this request. If they want ‘a quick sale', turning down a genuine purchaser is going to damage their objectives. Try to communicate with the sellers directly and make sure they comprehend that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you intend to appoint your own,trusted Abbey Wood conveyancing solicitors - rather thanthe ones that will give the negotiator at the agency a kickback or hit his conveyancing figures pre-set by senior management.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the lender conveyancing panel. My lawyer has said that they are on the lender approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the mortgage company conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the bank solicitor panel.