The property market in Arundel is hotting up. What can I do to speed up matters?
First, If the seller is applying pressure for your conveyancing it is advisable to make sure that your lawyer is familiar with the location as they will make use of local contacts and knowledge. It is possible that they would have transacted previousproperties in the same road. Therefore consider using a Arundel conveyancing firm. Second, check that the lawyer is on the member panel. It is said that just under twenty per cent of Arundel conveyancing transactions are frustrated or derailed after discovering a purchaser’s conveyancer was not on their mortgage lender’s member panel. In many cases this discovery resulted in the legal transfer of property being frustrated by as much as three weeks. It is believed that this issue impacts in the region of 100,000 home moves every year. Many Arundel conveyancing practices can not represent certain mortgage companies so do check as early as possible.
I am purchasing a right to buy a flat in Arundel. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Arundel you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Arundel.
My stepmother advised me that in purchasing a property in Arundel there may be various restrictions affecting the ability to carry out external alterations to a property. Is this right?
We are aware of anumerous of properties in Arundel which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Arundel should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I happen to be the single beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Arundel. Conveyancing formalities meant that the Land Registry date was in March. I plan to dispose of the house. I do know about the CML six month 'rule', meaning my proprietorship may be considered the same way as though I had purchased the property in March. Will no one buy the property for half a year?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. How sensible a view lenders take of it, depend on the mortgage company as this provision is primarily there to identify the purchase and immediately sell or the wholesaling and assigning of properties.
We previously instructed solicitors locally in Arundel on the Aldermore solicitor approved list. They are now charging me an additional sum for the legal aspects of the Aldermore mortgage. Is this an additional conveyancing fee specified by Aldermore?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your lawyer can levy a fee for this. The charge is not dictated by Aldermore but by your Arundel lawyer. Numerous firms on the Aldermore panel will levy an ‘acting for lender’ fee but some firms incorporate it on their overall fee.
I own a 4 bedroom Victorian property in Arundel. Conveyancing practitioner represented me and Barclays . I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold with the exact same property. Is it worth asking Barclays to clarify?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Arundel and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing practitioner who conducted the purchase.
How does conveyancing in Arundel differ for new build properties?
Most buyers of new build property in Arundel approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because developers in Arundel tend to acquire 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 conveyancing solicitors 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 Arundel or who has acted in the same development.
I note that you have a post code search directory identifying solicitors on the lender conveyancing panel. Do Arundel conveyancing firms pay you a referral fee if I retain them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Arundel.