My fiance and I are hoping to buy a property in Clacton On Sea and have appointed a Clacton On Sea conveyancing practice. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Virgin Money have this morning contacted us to advise us that there is now an issue as our Clacton On Sea lawyer is not on their approved list of lawyers. Please explain?
Where you are buying a property needing a mortgage it is usual for the purchasers' lawyers 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 Accreditation Scheme. Your property lawyer should contact your bank 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 lender’s conveyancing panel and you may continue to use your own Clacton On Sea solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Is it necessary to pay for insurance to address the risk of chancel repairs when buying a property in Clacton On Sea?
Unless a previous acquisition of the premises completed post 12 October 2013 you could expect solicitors conducting conveyancing in Clacton On Sea to remain encouraging a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly identified as part of conveyancing in Clacton On Sea?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Clacton On Sea. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Clacton On Sea differ for new build properties?
Most buyers of new build premises in Clacton On Sea approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because developers in Clacton On Sea typically 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 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 used to new build conveyancing in Clacton On Sea or who has acted in the same development.
What does commercial conveyancing in Clacton On Sea cover?
Non domestic conveyancing in Clacton On Sea incorporates a broad array of services, provided by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
As co-executor for the will of my grandmother I am disposing of a property in Newport but I am based in Clacton On Sea. My lawyer (based 235 kilometers from mehas requested that I sign a stat dec ahead of completion. Could you suggest a conveyancing solicitor in Clacton On Sea who can attest and place their company stamp on the document?
Technically speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will suffice regardless of whether they are Clacton On Sea based