I am buying property in Cheam. My Conveyancer has never been on on the mortgage company approved panel. Can I still appoint my Cheam conveyancing solicitor even though they are excluded from the lender panel?
You must appoint a solicitor to deal with the formalities when you need a mortgage to purchase your property. The property lawyer will conduct all the relevant investigations on the property, ensuring that you’re properly registered as the owner and ensure that all the required mortgage documentation is dealt with. You can appoint a Cheam property lawyer of your choice. However, where the conveyancer appointed is not on the lender approved list additional costs will arise as separate legal representation will be need by the bank. Lender panel applications may be submitted, so if your conveyancer has not previously sought membership they should take the chance to apply.
My husband and I swapping mortgage lender for our apartment in Cheam with Leeds Building Society. We have a son 19 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is repossessed. I have two questions (1) Is this form unique to the Leeds Building Society conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Leeds Building Society conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Leeds Building Society. This is solely used to protect Leeds Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Leeds Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Is it the case that all Cheam conveyancing solicitors on the Clydesdale conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Clydesdale conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many banks do allow licenced conveyancers on their panel and in such a situation the organisation would be overseen by the CLC.
We are getting a further advance on our mortgage from Leeds Building Society as we intend to carry out alterations to our property in Cheam. Are we obliged to select a bricks and mortar Cheam solicitor on the Leeds Building Society conveyancing panel to handle the legals?
Leeds Building Society do not ordinarily instruct firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society list.
I am currently in the process of buying my council flat in Cheam. I have a mortgage offer with Lloyds. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
How does conveyancing in Cheam differ for new build properties?
Most buyers of new build or newly converted property in Cheam come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Cheam usually buy 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 Cheam or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a property in Cheam before instructing solicitors. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some lenders may refuse to give a mortgage on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. If you call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Cheam. Conveyancing will be smoother if you use a solicitor in Cheam especially if they are accustomed to such properties in Cheam.
I am using a search engine for the phrase cheap conveyancing in Cheam it shows results of many property lawyersin the area. With so much choice what is the best way to find the suitable conveyancer for my move?
The preferential method of seeking the right conveyancer is via trusted referral, so seek the guidance of friends and those you trust who have acquired a property in Cheam or a local estate agent or mortgage broker. Fees for conveyancing in Cheam vary, so it's a good idea to request a minimum of three fee estimates from different companies. Make sure that you know what costs in the quote includes.