I plan on acquiring a ground floor flat in Bourne End. My property lawyer is not on the lender approved list. Is it possible for me to use my Bourne End conveyancing solicitor notwithstanding that they are excluded from the lender list of approved lawyers?
You have a couple of choices available to you here
- Proceed with your preferred Bourne End conveyancer but your lender will no doubt instruct a lawyer from their conveyancing panel. This will result in additional fees together with likely interruption.
- Appoint a new property lawyer to conduct the conveyancing, making sure they are on the mortgage company conveyancing panel.
- Convince your property lawyer to apply to join the mortgage company panel
I am the single recipient of my late father’s will with all property in now in my sole name, including the my former home in Bourne End. Conveyancing formalities meant that the Land Registry date was in September. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship will be considered the same way as though I had purchased the house in September. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ 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 practical a view lenders take of it, depend on the bank as this obligation is principally there to capture subsales or the quick reselling of properties.
When it comes to mortgage companies such as Clydesdale, do Bourne End property lawyers have to pay a fee to be on the conveyancing panel?
We are not aware of any bank fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
After what seems like an age I have had an offer on a flat in Bourne End accepted, the owners do however have a connected purchase. The sellers have placed an offer on somewhere, but it’s not yet agreed to, and are looking at other apartments in the pipeline. I have chosen a high street conveyancing solicitor in Bourne End. What do I do now? At what stage should I apply for the mortgage with HSBC?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (mortgage application is approx one thousand pounds, then survey, Bourne End conveyancing search fees, etc). The first course of action is to ensure that your property lawyer is on the HSBC conveyancing panel. Regarding the subsequent stages this very much depends on the specifics of your case, attraction to the property and on the state of the market. In a hot market some buyers would apply for a home loan with HSBC and pay for the valuation and only if it comes back ok would they request their lawyer to proceed with searches.
What can a local search inform me concerning the property my wife and I purchasing in Bourne End?
Bourne End conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search company for example Onsearch The local search is essential in every Bourne End conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your property. The search should supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
How does conveyancing in Bourne End differ for new build properties?
Most buyers of new build or newly converted property in Bourne End come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is finished. This is because builders in Bourne End 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 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 accustomed to new build conveyancing in Bourne End or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Bourne End is the location of the property. Can you offer any advice?
Flying freeholds in Bourne End are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bourne End you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bourne End may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My husband and I are FTB’s - had an offer accepted, but the selling agent advised that the seller will only issue a contract if we appoint the agent's preferred lawyers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a family conveyancer accustomed to conveyancing in Bourne End
It is unlikely the sellers are behind this. Should the vendor want ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Contact the vendors directly and make the point that (a)you are genuine buyers (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)but you will continue to instruct your own,trusted Bourne End conveyancing lawyers - not the ones that will provide the estate agent a kickback or meet his conveyancing targets demanded by HQ.