We're in Bishops Lydeard, First time buyers buying with a mortgage (lender is Virgin Money , and our solicitor is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
There are a variety of conveyancing solicitors in Bishops Lydeard but how do I know who's good?
It would be unwise to be seduced by the cheapest Bishops Lydeard conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am selling my house. I had a double glazing fitted in April 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Virgin Money are being problematic. The Bishops Lydeard solicitor who is on the Virgin Money conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Virgin Money are requiring a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I was told three weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Bishops Lydeard is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
Should my solicitor be asking questions regarding flooding as part of the conveyancing in Bishops Lydeard.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Bishops Lydeard. Plenty of people will acquire a house in Bishops Lydeard, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, but there are a various checks that may be initiated by the purchaser or by their solicitors which can give them a better understanding of the risks in Bishops Lydeard. The standard property information forms sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the seller to determine whether the premises has suffered from flooding. If flooding has previously occurred and is not disclosed by the seller, then a buyer may issue a claim for damages as a result of such an misleading answer. A purchaser’s solicitors may also order an enviro search. This should higlight whether there is any known flood risk. If so, more detailed investigations will need to be conducted.
My wife and I own a renovated Victorian property in Bishops Lydeard. Conveyancing practitioner represented me and Norwich and Peterborough Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
You should read 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 Bishops Lydeard and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with your conveyancing practitioner who conducted the work.
Do I need to be concerned about estate agents that I am dealing with are recommending a factory type conveyancing firm rather than a local Bishops Lydeard conveyancing practice?
As is the case with many professional services, often input from relatives can be most helpful. But there are lots of parties with a keen interest in a conveyancing matter; estate agents, financial adviser and mortgage companies might all put forward solicitors to instruct. Sometimes the solicitors might be known to one of the organisations as experts in their field, but occasionally there might be a financial incentive behind the endorsement. You have the discretion to select your own conveyancer. Don't forget that most banks operate an approved list of law firms you have to use for the mortgage related work in your home move.
My husband and I are first time buyers - had an offer accepted, yet the estate agent has warned us that the owners will only issue a contract if we use their preferred lawyers as they are insisting on a ‘quick sale’. We would rather use a high street conveyancer with experience of conveyancing in Bishops Lydeard
It is improbable the vendors are behind this. Should the owner require ‘a quick sale', alienating a motivated purchaser is not the way to achieve this. Try to communicate with the vendors directly and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are chain free (d) you wish to move quickly (e)however you are going to appoint your own,trusted Bishops Lydeard conveyancing lawyers - not the ones that will provide the negotiator at the agency a introducer fee or meet his conveyancing targets set by senior management.