My wife and I are planning to buy a house in Chipstead and are in fact using a Chipstead conveyancing firm. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Britannia have this morning contacted us to advise us that they have now hit a problem as our Chipstead conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is usual for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Chipstead solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
My fiancee and I are acquiring our first property. Our solicitor has texted usto ask if we want to take out additional conveyancing searches. Unfortunately we are clueless as to what's recommended for conveyancing in Chipstead
The range of Chipstead conveyancing searches should be triggered based entirely on the premises, the location, the possibility of any of these risks, your knowledge of the area and risks, your general approach to risk. What is important is that you adequately appreciate what information each search could provide. You may then decide if you consider that you need that search. If in doubt, ask your lawyer to recommend.
I have been on the look out for a flat up to £235,500 and found one near me in Chipstead I like with amenity areas and station nearby, however it only has 49 remaining years left on the lease. There is not much else in Chipstead in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a mortgage the shortness of the lease will be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
Should I be suspicious that estate agents that I am dealing with are recommending an internet conveyancing firm rather than a High Street Chipstead conveyancing company?
As is the case with lots of professional services, often input from connections can be worth their weight in gold. Yet there are many parties with a keen interest in a conveyancing deal; estate agents, financial adviser and mortgage companies might all recommend solicitors to use. Sometimes the conveyancers might be known to one of the organisations as being good in their field, but sometimes there might be a commercial relationship behind the recommendation. You are free to appoint your own lawyer. You need to be aware that most mortgage providers operate an approved list of law firms you must use for the mortgage related work in your house move.
My husband and I are 17 days into a residential purchase having been recommend to a firm by the high street agent to carry out the conveyancing in Chipstead. I am am very disappointed with the quality of service. Could you you assist me in finding new lawyers?
A solicitor would need to be really bad to suggest replacing them. Has the mortgage offer been generated? In the event that it has you will need to make them aware of the new solicitor and get the offer are re-issued. Your new solicitor ideally needs to be on the lenders panel to avoid added expenses and complications. So that should be your first question of the new conveyancers. Our search tool will help you find a lender approved lawyer for your conveyancing in Chipstead
I am contemplating appointing an online conveyancer rather than a Chipstead conveyancing practice. Should I ‘stay local’?
Various benefits exist in having the option visit a local Chipstead conveyancing solicitor such as
- signing documents same day
- often being able to speak to someone face-to-face can make a significant difference, particularly for more complex transactions
- the ability to raise concerns if things go pear-shaped
When comparing estimates, look out for hidden extras. The majority decent Chipstead high street solicitors give an all-inclusive figure. Often online companies seem to offer cheap prices, but have burried 'extras' in the small print.