I am obtaining a mortgage with Santander. My intention is to enlist the help of a Licensed Conveyancer in Blackwall. Does the Santander Conveyancing panel allow for Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Is it possible for conveyancing in Blackwall to be done within 3 weeks?
In a situation where the seller is applying time constraints to exchange it is highly recommended that your lawyer is familiar with the location as they will have local contacts and intelligence. It is possible that they could have handled previoushomes in the same road. Therefore consider using a Blackwall conveyancing lawyer. In addition, make sure that the conveyancing firm is on the on the approved list for your mortgage company. It is said that just under twenty per cent of Blackwall conveyancing deals are held up or derailed after finding out that a buyer’s lawyer was not on their mortgage lender’s panel. This can often result in the transaction being frustrated by almost three weeks. It is claimed that this issue affects in the region of one hundred thousand home moves every year. Many Blackwall conveyancing firms can not act for certain banks so do check at the outset.
It is 10 years ago since I acquired my home in Blackwall. Conveyancing solicitors have just been instructed on the sale but I can't find my deeds. Is this a problem?
You need not be too concerned. Firstly the deeds may be retained by your lender or they could be in the possession of the lawyers who acted in your purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors obtaining current official copies of the land registers. The vast majority of conveyancing in Blackwall relates to registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.
Should our solicitor be making enquiries about flooding during the conveyancing in Blackwall.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Blackwall. Plenty of people will purchase a property in Blackwall, completely expectant that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, however there are a various searches that may be undertaken by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Blackwall. The conventional set of information sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a usual question of the seller to determine if the premises has suffered from flooding. If flooding has previously occurred which is not disclosed by the vendor, then a buyer may issue a compensation claim stemming from an inaccurate response. A purchaser’s solicitors should also order an environmental report. This should disclose whether there is a recorded flood risk. If so, additional inquiries should be carried out.
How does conveyancing in Blackwall differ for new build properties?
Most buyers of new build or newly converted property in Blackwall approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Blackwall tend to acquire the site, 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 Blackwall or who has acted in the same development.
Should I be wary by third parties that I am dealing with are suggesting a nationwide conveyancing firm rather than a High Street Blackwall conveyancing practice?
As with lots of service providers, often referrals from connections can be most helpful. Nevertheless there are numerous people with a vested interest in a conveyancing matter; estate agents, financial adviser and banks may recommend solicitors to use. Sometimes the solicitors might be known to one of the organisations as being good in their field, but occasionally there may be a financial incentive behind the recommendation. You have the right to appoint your preferred conveyancer. However, bear in mind that most lenders have an approved list of conveyancers you have to use for the lender aspect of your home move.